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Q4 - Given the following information, compute the effective tax rate for the particular piece of property in percentage terms. Market value of property: $300,000,

Q4 - Given the following information, compute the effective tax rate for the particular piece of property in percentage terms. Market value of property: $300,000, Assessed value of property: $240,000, Exemptions: $50,000, Taxes paid: $4,500.

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