Ask Question
18 July, 09:45

Jack and Brenda Bushnell pay $2,870.19 in annual property taxes. The rate of assessment for their tax district is 54%, and their tax rate is 39.87 mills. What is their property's market value to the nearest cent?

+5
Answers (1)
  1. 18 July, 12:16
    0
    Jack and Brenda Bushnell can calculate their property's market value using the equation below:

    Annual Market Value = (Rate of Assessment x Market Value x Tax Rate/1000)

    $2,870.19 = (0.54 x Market Value x 0.03987)

    Market Value = $133,312.43

    Therefore, the market value to the nearest cent is $133,312.43.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jack and Brenda Bushnell pay $2,870.19 in annual property taxes. The rate of assessment for their tax district is 54%, and their tax rate ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers