how much money will the owner of the home shown in the table have to pay in property taxes per year? real…

how much money will the owner of the home shown in the table have to pay in property taxes per year? real estate tax property tax 2.5% purchase price $260,000 market value $290,000

how much money will the owner of the home shown in the table have to pay in property taxes per year? real estate tax property tax 2.5% purchase price $260,000 market value $290,000

Answer

Explanation:

Step1: Identify the formula

Property - tax = Tax - rate×Purchase - price

Step2: Substitute the values

The tax - rate is 2.5% or 0.025 in decimal form, and the purchase price is $260,000. So, Property - tax=0.025×260000

Step3: Calculate the result

0.025×260000 = 6500

Answer:

$6500