In Chicago, the tax on a property assessed at $550,000 is $7,700. If tax rates are proportional in this city, how much would the tax be on a property assessed at $920,000?

write a proportion to solve the question.

7,700/550,000 = x/920,000

Cross multiply and solve for x.

To solve this question using a proportion, we first need to set up a ratio between the assessed property value and the tax amount.

Let's define:
- Assessed Property Value 1: $550,000
- Tax amount 1: $7,700

Now, we can set up the proportion using these values as follows:

Assessed Property Value 2 / Tax amount 2 = Assessed Property Value 1 / Tax amount 1

Using the given values, the proportion to solve the question would be:

920,000 / x = 550,000 / 7,700

Where x represents the unknown tax amount for a property assessed at $920,000.

To find the value of x, we need to cross multiply and solve for x:

920,000 * 7,700 = 550,000 * x

7,084,000,000 = 550,000x

Now, to isolate x, we divide both sides of the equation by 550,000:

x = 7,084,000,000 / 550,000

x ≈ $12,880

According to the proportion, the tax for a property assessed at $920,000 would be approximately $12,880.