Answer: A. $2,800
Step-by-step explanation:
Given: The value of Jerome's home= $112,000
Thus, the assessment of the property = $112,000
We know that to calculate the property tax, multiply the assessment of the property by the mill rate and divide by 1,000.
Thus, the property tax [tex]=112000\times\frac{25}{1000}=\$2,800[/tex]
Hence, Jerome pay $2,800 in tax.
Therefore, A is the right answer.
Answer:
$2,800
Step-by-step explanation:
Given : The tax rate on Jerome Jame's $112,000 vacation home is 25 mills.
To Find : How much will Jerome pay in taxes this year?
Solution :
Tax rate = 25%
Jerome Jame's pay = $112,000
Amount of tax = [tex]25\% \times 112000[/tex]
Amount of tax = [tex]\frac{25}{100}\times 112000[/tex]
Amount of tax = [tex]28000[/tex]
So, Option A is true
Hence Jerome pay $2,800 in taxes this year
