BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$4, 235
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$63, 920
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$60, 234
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$35, 980
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Detailed explanation-1: -Assessed Value = Market Value x (Assessment Rate / 100) The market value is multiplied by the assessment rate, in decimal form, to get the assessed value.
Detailed explanation-2: -What is Assessed Value. Definition: For the purpose of taxation, a property is assessed for its monetary worth. This ascertained price is known as assessed value. Description: This assessment is done at an annual basis, considering factors such as property values and market conditions in the neighboring areas.
Detailed explanation-3: -The assessed value of a home is usually less than market value, with the assessed value coming to 70-80% of market value.
Detailed explanation-4: -: the amount assessed : an amount that a person is officially required to pay especially as a tax. the tax assessment on property.