how much money will the owner of the home shown in the table have to pay in property taxes per year?\nreal…

how much money will the owner of the home shown in the table have to pay in property taxes per year?\nreal estate tax\n|property tax|2.5%|\n|purchase price|$260,000|\n|market value|$290,000|

how much money will the owner of the home shown in the table have to pay in property taxes per year?\nreal estate tax\n|property tax|2.5%|\n|purchase price|$260,000|\n|market value|$290,000|

Answer

Explanation:

Step1: Identify the formula

Property - tax = Purchase - price×Tax - rate

Step2: Substitute the values

The purchase price is $260,000 and the tax - rate is 2.5% or 0.025 in decimal form. So, Property - tax=$260000\times0.025$

Step3: Calculate the result

$260000\times0.025 = 6500$

Answer:

$6500$