Answer:
• (a)$43,830
,• (b)$2848.95.
Explanation:
Part A
• The rate of assessment is 45% of the market value.
,• The Mariaskis’ home has a market value of $97,400.
Therefore, the assessed value of the home is:
[tex]\begin{gathered} 45\%\text{ of \$97,400} \\ =0.45\times97400 \\ =\$43,830 \end{gathered}[/tex]The assessed value is $43,830.
Part B
• The tax is $65 per $1,000 of assessed value.
,• From part(a), the assessed value is $43,830.
Therefore, the yearly real estate tax is:
[tex]\frac{65}{1000}\times43830=\$2848.95[/tex]The yearly real estate tax is $2848.95.
