Harry and Mary just purchased a new home. They paid $360,000.00 for it. The county sent an appraiser to assess the value of Harry and Mary's home. The appraiser assessed the value of Harry and Mary's house at two-thirds of the purchase price. The tax rate is 3.45%. What will be the annual property tax on Harry and Mary's home?
What will be an ideal response?
The annual tax will be $8,280.00 . (2/3 of $360,000.00 = $240,000.00).
($240,000.000 X .0345 = $8,280.00)
Legal Studies & Paralegal
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