Property taxes in a particular district are 2

2% of the purchase price every year. If you just purchased a $150 comma 000

150,000 home, what is the present value of all the future property taxpayments? Assume that the house remains worth $150 comma 000

150,000 forever, property tax rates neverchange, and that a 4

4% interest rate is used for discounting.

The present value of all the future property tax payments is $

nothing

. (Round your response to two decimalplaces.)