Ian's house and land have a market price of $225,000 and an assessed value of 55% of that amount. His state has a property tax rate of 0.088. How much does Ian pay in property tax every year?

First find the assessed value: $225,000 × 0.55 = $123,750. Then multiply by the property tax rate: $123,750 × 0.088 = $10,890, so the correct choice is $10,890.

AI-written and checked against the verified answer.