Al's Garage Has a Market Value of $425,000

question 37

Short Answer

Al's Garage has a market value of $425,000. The property in Al's area is assessed at 40% of the market value. The tax rate is $148.50 per $1,000 of assessed valuation. Find the tax for Al.

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Definitions:

Richard Nixon

The 37th President of the United States, serving from 1969 to 1974, known for his policy of détente with the Soviet Union and the scandal of Watergate that led to his resignation.

New Deal Programs

A series of projects and programs implemented during the 1930s by President Franklin D. Roosevelt's administration to help the United States recover from the Great Depression, focusing on relief, recovery, and reform.

Third World

A term originally used to describe countries not aligned with either the NATO or Communist Blocs, often used now to refer to developing nations.

Colonialism

The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.