Question

sales and property taxes two locations charge different property tax rates on a $350,000 home. one charges 0.8% and the other charges 1.3%. how much more in taxes would be paid in the location with the higher rate? $3,500 $1,200 $1,750 $1,400

Explanation:

Step1: Calculate tax at 0.8%

$\text{Tax}_1 = 350000 \times 0.008 = 2800$

Step2: Calculate tax at 1.3%

$\text{Tax}_2 = 350000 \times 0.013 = 4550$

Step3: Find tax difference

$\text{Difference} = 4550 - 2800 = 1750$

Answer:

$1,750$