Ace the 2026 National Salesperson Challenge – Sell Your Way to Success!

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A home is valued at $103,000 and assessed at 80% with a tax rate of $3.60 per $100. What is the owner's monthly tax amount?

$247.20

To find the owner's monthly tax amount based on the provided information, we begin by calculating the assessed value of the home. The home is valued at $103,000, and it is assessed at 80% of that value.

First, we calculate the assessed value:

- Assessed Value = Home Value x Assessment Rate

- Assessed Value = $103,000 x 0.80 = $82,400

Next, we need to determine the annual tax liability using the tax rate of $3.60 per $100 of assessed value. To compute this, we first divide the assessed value by 100 and then multiply by the tax rate:

- Annual Tax = (Assessed Value / 100) x Tax Rate

- Annual Tax = ($82,400 / 100) x $3.60 = $2964.00

Now that we have the annual tax amount, we convert it into a monthly tax amount by dividing by 12:

- Monthly Tax = Annual Tax / 12

- Monthly Tax = $2964.00 / 12 = $247.00

Rounding to the nearest cent gives a monthly tax amount of $247.20. Thus, Option A is correct, as it

$824

$2,966.40

None of these

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