how much money will the owner of the home sho...
how much money will the owner of the home shown in the table have to pay in property taxes per year? real estate tax property tax 2% purchase price $280,000 market value $310,000
Answer
# Explanation:
## Step1: Identify the formula
Property - tax = Purchase - price×Tax - rate
## Step2: Substitute values
The purchase price is $280000$ and the tax - rate is $2\%=0.02$. So, property - tax = $280000\times0.02$
## Step3: Calculate the result
$280000\times0.02 = 5600$
# Answer:
$5600$