you have a home with a market value of $144,700, which has an assessment value of 72% of that amount. your…

you have a home with a market value of $144,700, which has an assessment value of 72% of that amount. your city has a property tax rate of 0.039. you know that 65% of your property tax dollars go to public schools. to the nearest dollar, how much of your taxes went to funding schools?\na. $4,063\nb. $3,668\nc. $2,641\nd. $6,772\nplease select the best answer from the choices provided\na\nb\nc\nd

you have a home with a market value of $144,700, which has an assessment value of 72% of that amount. your city has a property tax rate of 0.039. you know that 65% of your property tax dollars go to public schools. to the nearest dollar, how much of your taxes went to funding schools?\na. $4,063\nb. $3,668\nc. $2,641\nd. $6,772\nplease select the best answer from the choices provided\na\nb\nc\nd

Answer

Explanation:

Step1: Calculate assessment value

$144700\times0.72 = 104184$

Step2: Calculate property tax

$104184\times0.039=4063.176$

Step3: Calculate tax for schools

$4063.176\times0.65 = 2641.0644\approx2641$

Answer:

C. $2,641$