Question

1. The assessed value of the Sanchez house is $485,000. The

annual property tax is rate 2.975% of the assessed value.
What is the annual property tax on the Sanchez house?

Answer 1

The annual property tax on the Sanchez house is 14,428.75 $
Explication :

Multiply 485,000$ with the annual tax ( which is 2.975%) = 1,442,875 and then divide with 100 ( this is the percent from 2,975) and the result is 14,428.75$