Question 1

The market value of a home is $200,000. Find the assessed value if the assessment rate is 64%.

Accepted Answer

.64 × $200

Question 2

Mike's condo has a market value of $310,000. The property in Mike's area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Mike is:

Accepted Answer

A) $16,992.40 
B) $7,999.30 
C) $7,999.40 
D) $17,992.40 
E) None of these 
A) $16,992.40 
B) $7,999.30 
C) $7,999.40 
D) $17,992.40 
E) None of these

Question 3

Which of the following is subject to sales tax in the District of Columbia?

Accepted Answer

A) Roast beef 
B) Tomatoes 
C) Shampoo 
D) Milk 
E) None of these 
A) Roast beef 
B) Tomatoes 
C) Shampoo 
D) Milk 
E) None of these

Question 4

Sales tax is taken on shipping charges.

Accepted Answer

A) True 
 B)False

Question 5

Complete (express answers to nearest hundredth):
 $$\begin{array} { | l | l | l | l | l | } 
\hline \text { Decimal Tax Rate } & \% & \text { Per } \$ 100 & \operatorname { Per } \$ 1,000 & \text { Mills } \
\hline 084381 & \text { A } & \text { B } & \text { C } & \text { D } \
\hline
\end{array}$$

Accepted Answer

A. 8.44%;

Question 6

Calculate assessed value, given a property tax of $6,100 and 26 mills tax rate.

Accepted Answer

26 × .001

The market value of a home is $200,000. Find the assessed value if the assessment rate is 64%.

Mike's condo has a market value of $310,000. The property in Mike's area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Mike is:

Which of the following is subject to sales tax in the District of Columbia?

Sales tax is taken on shipping charges.

Complete (express answers to nearest hundredth): Decimal Tax Rate \% Per \ 100 Per \ 1,000 Mills 084381 A B C D

Calculate assessed value, given a property tax of $6,100 and 26 mills tax rate.

Whole Numbers: How to Dissect and Solve Word Problems

Fractions

Decimals

Banking

Solving for the Unknown: a How-To Approach for Solving Equations

Percents and Their Applications

Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

Payroll

Simple Interest

Promissory Notes, Simple Discount Notes, and the Discount Process

Compound Interest and Present Value

Annuities and Sinking Funds

Installment Buying

The Cost of Home Ownership

How to Read, Analyze, and Interpret Financial Reports

Depreciation

Inventory and Overhead

Life, Fire, and Auto Insurance

Stocks, Bonds, and Mutual Funds

Business Statistics

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Exam 19: Sales, Excise, and Property Taxes

The market value of a home is $200,000. Find the assessed value if the assessment rate is 64%.

Mike's condo has a market value of $310,000. The property in Mike's area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Mike is:

Which of the following is subject to sales tax in the District of Columbia?

Sales tax is taken on shipping charges.

Complete (express answers to nearest hundredth): Decimal Tax Rate \% Per \ 100 Per \ 1,000 Mills 084381 A B C D

Calculate assessed value, given a property tax of $6,100 and 26 mills tax rate.

Whole Numbers: How to Dissect and Solve Word Problems

Fractions

Decimals

Banking

Solving for the Unknown: a How-To Approach for Solving Equations

Percents and Their Applications

Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

Payroll

Simple Interest

Promissory Notes, Simple Discount Notes, and the Discount Process

Compound Interest and Present Value

Annuities and Sinking Funds

Installment Buying

The Cost of Home Ownership

How to Read, Analyze, and Interpret Financial Reports

Depreciation

Inventory and Overhead

Life, Fire, and Auto Insurance

Stocks, Bonds, and Mutual Funds

Business Statistics

Filters