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Kelly is purchasing a property that has an assessed value of $160,000. If the tax rate is 2.5%, what will Kelly likely pay annually in property taxes

Respuesta :

Given that the tax rate is 2.5%, then, the amount that Kelly will likely pay annually in property taxes is $4,000.

What is a property tax?

This is a type of tax imposed on the purchase of property in a particular region.

Given data

Assessed value is $160,000

Tax rate is 2.5%

Tax payable = $160,000 * 2.5%

Tax payable = $4,000

Therefore, the tax payable on the property is $4,000.

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