Mike pays $8,000 in property taxes, but receives a 28% tax deduction for it. What is Mike’s net expense for property taxes

Question

asked Jul 24, 2022 179k views

1 Answer

Edd Inglis · Answer 1 · 2022-07-27T17:56:14+0000

Answer:

$5760

Explanation:

Given data

Principal= $8,000

Tax= 28%

Let us compute 28% tax deduction

=28/100*8000

=0.28*8,000

=$2240

Hence the net expenses is

=8000 -2240

=$5760