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If a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in property
If a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in propertytaxes?
$50
$500
$5,000
$50,000
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Final answer:To calculate the property tax amount, multiply the home value by the property tax rate expressed as a decimal.Explanation:To calculate the amount the owners will pay in property taxes, you can multiply the home value ($250,000) by the property tax rate (2 percent). First, convert the 2 percent to a decimal by dividing it by 100, which gives you 0.02. Then, multiply the home value by the decimal to find the property tax amount.So, the property tax amount is $250,000 * 0.02 = $5,000. Therefore, the owners will pay $5,000 in property taxes.Learn more about Calculating property taxes here:brainly.com/question/4891386...
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