Answer : A. $63,000
In the community of Reese, the market value of a home is $180,000. The assessment rate is 35%.
To find assessed value we multiply the market value of property by assessment rate
Given market value of property is $180,000
Assessment rate of property is 35%= 35/100 = 0.35
Assessed value = market value * assessment rate
= 180000* 0.35= 63000
the assessed value= $63,000
Answer:
The correct answer option is A. $63,000
Step-by-step explanation:
We know that,
the market value of a home = $180,000
the assessment rate = 35%
and we are supposed to find the assessed value.
To find the assessed value, we will calculate 35% of the given market value of the home like shown below:
[tex]35%[/tex] × $180,000
[tex]=\frac{35}{100}[/tex] × 180000
[tex]=63000[/tex]
Therefore, the assessed value of the home worth $180,000 market value is equal to $63,000.
