connect e 4 Homework On-line Sections value 1.00 points Homeowners enjoy many be

Question

connect e 4 Homework On-line Sections value 1.00 points Homeowners enjoy many benefits, including a federal tax deduction for state and local property taxes paid. Des Moines, lowa, was voted one of the top 100 best places to live in 2011 by Money Magazine. With a median home price of $155,000 and property taxes at 27.33 mills, how much does the average homeowner pay in property taxes? (Round your answer to the nearest cent.) Average homeowner pays References eBook & Resources Worksheet Dimculty: Intermediate

Explanation / Answer

Property tax = Assessed value of home * Mill rate/ 1000

155000* 27.33 mills / 1000 =

$ 4236.15

The average home owner pays $4236.15 in property taxes

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