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The butler county tax assessor determines that the market value of greg wilson's home is $123,000. the rate of assessment in butler county is 28% of market value. what is the assessed value of greg's home?

Respuesta :

The assessed value of Greg's home will be calculated as -

Assessed value of Greg's home = Market value of Greg's home X Rate of assessment

Assessed value of Greg's home = $ 123,000 X 28 %

Assessed value of Greg's home = $ 34,440

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Answer

$34,440

Explanation

The Assessed value is the dollar value placed on a property to measure applicable taxes to determine the value of a house for tax reasons considering inspections and comparable home sales. The formula is;

Assessed value=market value × rate

Assessed value of Greg’s home=$123000×28% =$34440

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