The property taxes on a business office were $1105. What was the tax rate if the business office was valued at $85,000? Follow the problem-solving process and round your answer to the nearest hundredth of a percent, if necessary.

1.30%

Explanation:

Given that

Property taxes on a business office = $1,105

Value of the business office = $85,000

By considering the above information,

The tax rate is

= (Property taxes on a business office : Value of the business office) * 100

= ($1,105 : $85,000) * 100

= 1.30%

Basically we divided the property taxes by the value of the business office so the approximate percentage could come