Question

If you paid $1600 in property taxes on a house appraised at $80,000, what is the property tax rate in your neighborhood?

Answer 1

i = 1600/80,000 = 0.02

0.02 = 2%
answer: tax rate is 2%

Answer 2

tax rate would be 2%

Explanation:

You paid $1,600 in property taxes on a house appraised at = $80,000

We have to calculate the property tax rate, that would be the tax rate in your neighborhood.

percentage of tax rate =
`(1600)/(80,000)* 100`

= 0.02 × 100

= 2%

Your property tax rate was 2% that is the property tax rate in your neighborhood.