404 Chapter 9 TaxesEXERCISES 9.3
A. Calculating Real Estate Taxes- My house has an assessed value of $15,375. The property tax rate is $48.82 per thousand. Determine the property
tax. - Bob’s house has an assessed value of $113,045. The property tax rate is $2.17 per hundred. Calculate the property
tax. - Rachel and Bruce own a house in the Northville Central School District. The school tax rate is $28.35 per thousand,
and the house’s assessed value if $285,000. Calculate the school district property tax on their house. - Suppose you own a house which has a $350,000 assessed value. The county property tax rate is 4.75 mills. Calculate
your county property tax. - The city property tax rate in Chester Rock is 4.72%. Suppose you own a house in this city that is assessed at $68,305;
fi nd the city property tax.
B. Assessed Value- Felix owns a house that is assessed at $35,043. He believes that the fair market value of the house is $175,000. For
this value, what would you expect the uniform assessment percent to be? - Sammi owns a property that is assessed at $78,345. She believes the fair market value of the property is around
$315,000. For this value, what would you expect the uniform assessment percent to be? - My town uses full assessment. If the market value of my property is $184,000, approximately what should my
assessment be? - The town of Lenoxburg uses a 15% uniform assessment percent.
a. If the fair market value of Shayne’s condo there is $457,000, what would you expect the assessment to be?
b. If his condo is assessed at $69,225, would Shayne have a justifi cation for fi ling a tax grievance?- a. If the uniform assessment percent is 20% and your property is assessed at $48,945, approximately what fair market
value does this assume?
b. If you believe that your property’s actual market value is $300,000. Would you have a justifi cation for fi ling a tax
grievance?