In central city, a property owner pays school taxes at the rate of 2% of the first $1500 of assessed valuation, 3% of the next $3000, and 6% of te remainder. How much must Mr. Williams pay in school taxes each year if his home is assessed at $8000?

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Mathematics

Raquel Cardenas

1 April, 12:49

In central city, a property owner pays school taxes at the rate of 2% of the first $1500 of assessed valuation, 3% of the next $3000, and 6% of te remainder. How much must Mr. Williams pay in school taxes each year if his home is assessed at $8000?

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Tyson Hooper · Answer 1

The first $1500 is taxes at 2%, which comes out to $30.

The next $3000 is taked at 3%, which comes out to $90.

This leaves a remainder of $8000 - ($1500+$3000). That'd be $3500.

Williams must pay 6% of that $3500, or $210.

His total tax bill would then be $210+$90+$30, or $330.