Solve the Problem. -A Taxpayer's Property Has a Fair Market Value of $96,000

question 21

Multiple Choice

Solve the problem.
-A taxpayer's property has a fair market value of $96,000. The rate of assessment in the area is 60%. The tax rate is $3.16 per $100 of assessed valuation. Find the property tax.

• A)$1,820.16
• B)$1,880.83
• C)$1,877.76
• D)$1,850.50

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Definitions:

Tunic

In a biological context, a fibrous or cellular covering layer, such as that surrounding certain seeds or the body of sea squirts and other invertebrates.

Adult Tunicates

Marine invertebrates that are members of the subphylum Tunicata; they are sessile as adults and have a sac-like body covered with a tunic.

Filter Feeders

Organisms that feed by straining suspended matter and food particles from water, typically using a specialized filtering structure.

Lancelets

Lancelets are small, blade-like marine animals belonging to the subphylum Cephalochordata, exhibiting key characteristics of chordates, such as a notochord and a dorsal nerve cord.