Find the assessed value of a building that has an estimated market value of $150,000. The assessment rate is 25%. Use the following formula to answer the questi

Question

how to do it and the answer

Answer 1

25% = 0.25

 

assessed value = 0.25 x 150000 = 37500

 

Then the property tax bill is divided by the property tax rate.

 

THe formulas are found at this link, with examples:

https://smallbusiness.chron.com/determine-assessed-value-20105.html