If the Market Value of an Average Home Is $180,000

question 30

Multiple Choice

If the market value of an average home is $180,000, and the assessment rate is 35% what is the assessed value?

• A)$63,000
• B)$51,429
• C)$243,000
• D)$60,000
• E)None of these

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Definitions:

Ratios

Ratios are financial metrics derived from a company's financial statements, used to evaluate aspects such as its profitability, liquidity, and solvency.

Ratio Computation

The process of calculating financial ratios, which are mathematical tools used to analyze and compare financial statements.

Income Before Taxes

A financial measure indicating the profitability of a company before accounting for its tax expense.

Income Tax Expense

The total amount of income tax a company expects to pay to tax authorities, reflecting the cost of taxes on its pre-tax income.