AnswersASSIGN FULL - EVP PGCPS FINANCIAL LITERACY OC FALL2026 - 795060Topic TestQuestion 34
34
QuizMultiple Choice

Topic Test

Question 34 • ASSIGN FULL - EVP: PGCPS FINANCIAL LITERACY OC (FALL2026) - 795060

Say that you own property with a market price of $74,000. The state tax assessors have given it an assessed value of 48% of that amount. If your state’s property tax rate is 0.031, how much do you owe in property tax, to the nearest dollar?

Answer
A
$1,101
B
$2,294
C
$35,520
D
$1,193

Explanation

First find the assessed value: $74,000 × 0.48 = $35,520. Then multiply by the tax rate: $35,520 × 0.031 = $1,101.12. Rounded to the nearest dollar, the property tax is $1,101, choice A.

AI-written and checked against the verified answer.

Previous
Next

More from this Course

Quiz
14 verified answers

Tax Returns

Quiz
11 verified answers

Tax Returns

Quiz
10 verified answers

Tax Returns