Homeowners enjoy many benefits, including a federal tax deduction for state and
ID: 3123147 • Letter: H
Question
Homeowners enjoy many benefits, including a federal tax deduction for state and local property taxes paid. Des Moines, Iowa, was voted one of the top 100 best places to live in 2011 by Money Magazine. With a median home price of $170,000 and property taxes at 27.36 mills, how much does the average homeowner pay in property taxes? (Round your answer to the nearest cent.)
Homeowners enjoy many benefits, including a federal tax deduction for state and local property taxes paid. Des Moines, Iowa, was voted one of the top 100 best places to live in 2011 by Money Magazine. With a median home price of $170,000 and property taxes at 27.36 mills, how much does the average homeowner pay in property taxes? (Round your answer to the nearest cent.)
Explanation / Answer
27.36 mills * 0.001 * 170000 = $4651.2
the average homeowner pay in property taxes = $4651.2
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