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Assume that you pay $2,849.84 in state property taxes every year. If your property has an assessed value of $41,302, what is your state’s property tax rate? a. 0.077 b. 0.032 c. 0.014 d. 0.069 Please select the best answer from the choices provided A B C D

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The state property tax rate is the ratio of the tax amount and the total amount earned which is 0.069

  • Amount paid in property tax = $2849.84

  • Total property value = $41,302

The tax rate of it's property can be calculated thus :

  • (Amount paid ÷ total value) × 100%

Tax rate = (2849.84 ÷ 41302) × 100%

Tax rate = 0.06900 × 100%

Tax rate = 6.9%

Therefore, the state property tax rate paid is 0.069

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