Question

If you paid $1,650.00 in property taxes on a house appraised at $112,000.00, what is the property tax rate in your neighborhood?

Express your answer rounded to the nearest hundredth of a percent

Answer 1

To calculate the property tax rate, you need to divide the property taxes by the appraised value of the property and then multiply by 100 to express the result as a percentage.

In this case, the property tax rate can be calculated as follows:

Property tax rate = (Property taxes / Appraised value) * 100%

= ($1,650.00 / $112,000.00) * 100%

= 0.014732142857142857 * 100%

= 1.47%

So, the property tax rate in your neighborhood is 1.47%, rounded to the nearest hundredth of a percent.