Homeowners enjoy many benefits, including a federal tax deduction for state and local property taxes paid. Madison, Wisconsin, earned the #1 spot in Livability.com's 2015 Top 100 Best Places to Live ranking. With a median home price of $220,200, if the property tax rate is $23.7963 per $1,000, how much does the average homeowner pay in property tax? (Round your final answer to the nearest cent.)

Average homeowner pay in property tax$