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can you answer all 5 with work? thank you! 1. A property has a market value of $76,000. The taxes in the area are levied
can you answer all 5 with work? thank you!
1. A property has a market value of $76,000. The taxes in the area are levied on 66% of market value at a rate of $2.50 per $100 of assessed value. How much tax will be charged in one year? 2. Mr. and Mrs. Billings own a house that is valued at $45.000. The assessed value is 55% of market value and the equalization factor is 1.3. The tax rate is 53.5 mills. What will be the tax bill for one year? 3. A property is valued at $46,000. The taxes are levied on 45% of market value and an equalization factor of 1.4 is used. The tax rate is $30 per $1.000 of assessed value. The owners of this property were delinquent in paying the second installment of their tax bill this year, by two months plus two days. What will be the total amount of their second installment if the penalty is 1% per month? (Consider the installments to be equal. Remember, tax penalties are the seller's responsibility; they are not prornted.) 4. A residential property sold for $75,000. The assessed value for tax purposes is 22% of market value. What will be the amount of the tax bill if the tax rate is $6.25 per $100 of assessed value? 5. Julio Martinez, a property owner, received his tax bill for $1.232.50. The published tax rate is $2.25 per $100 of assessed value. What is the assessed value of this property Step by Step Solution
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