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Unit 3 Math
| Question | Answer |
|---|---|
| Formula for Annual taxes | tax rate multiplied by assessed value |
| Formula for Assessed value | annual taxes divided by tax rate |
| Formula for tax rate | annual taxes divided by assessed value |
| $ amount per $100 of assessed value | tax rate |
| 30 mill | 3% |
| If the tax rate is $1.67/$100 and the assessed value is $120,000, what are the annual taxes? | $2,004 |
| If the annual taxes are $1,800 and assessed value is $110,000, what is the annual tax rate? | $1.64 / $100 or $.00164 |
| If the tax rate is $1.20/$100 and the annual taxes are $1,200, what is the assessed value? | $100,000 |
| If the tax rate is 24.5 mills per $1,000 of assessed value, and the assessed value is $125,000, what are the annual taxes? | $3,062.50 |
| If a city has an annual budget of $705,600 and has property within its jurisdiction with assessed value of $78,400,000, this year's tax rate would be? | $0.90 per $100 of valuation |
| If the tax rate were $0.90 per $100 of value, a $90,000 home would get a tax bill for ? | $810 |
| If the tax rate were $0.80 per $100 of value, that same $90,000 home would get a tax bis of ? | $720 |
| Person living on unpaved street. City petitioned to pave the street at $24/front foot, the city to pay 30% of the costs. Homeowners lot frontage is 100 feet, what will the special assessment tax be? | $840 |
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