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2. The rate of assessment in Fulton County is 35%. The tax rate is
81.31 mills. What is the real estate tax on a piece of property that
has a market value of $238,500?

Respuesta :

abiolataiwo2015

The real estate tax on a piece of property that has a market value of $238,500 is:$6,787.

Real estate tax

Using this formula
Real estate tax= (Tax rate/1000)× Real property ×Rate of assessment

Tax rate =18.31 mills

Real property=180,000

Rate of assessment=0.35

Let plug in the formula

Real estate tax = 81.31 /1000×$238,500×0.35

Real estate tax = $6,78

Therefore the real estate tax on a piece of property that has a market value of $238,500 is $6,787.

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