If the property taxes are $4500 on a home valued at $325,000, what is the effective property tax rate? Round your answer to two decimal places.

In order to calculate the effective property tax rate, we just need to divide the property taxes by the value of the house, so we have:
[tex]\text{tax rate}=\frac{4500}{325000}=0.0138=1.38\text{\%}[/tex]So the property tax rate is 1.38%.