A Piece of Property Valued at $2,000,000 Is Assessed for Property

question 240

Multiple Choice

A piece of property valued at $2,000,000 is assessed for property tax purposes at 70% of its value. If the property tax is $20.00 on each $1,000.00 of assessed value, what is the amount of tax?

• A) $23,700.00
• B) $4,000.00
• C) $28,000.00
• D) $12,000.00
• E) $40,000.00

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