if a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in…
if a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in property taxes?\n$50\n$500\n$5,000\n$50,000
Answer
Explanation:
Step1: Convert percentage to decimal
$2%=0.02$
Step2: Calculate property tax
$250000\times0.02 = 5000$
Answer:
$5000$ (corresponding to option C. $5,000$)