# Leo's townhouse has a market value of \$310,000. The property in Leo'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 Leo is    A. \$7,999.40.B. \$16,992.40.C. \$7,999.30.D. \$17,992.40.

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Leo's townhouse has a market value of \$310,000. The property in Leo'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 Leo is

 A. \$7,999.40. B. \$16,992.40. C. \$7,999.30. D. \$17,992.40.
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Step 1

The market value of townhouse is \$310,000.

The property is assessed at 40% of market value.

Step 2

The assessed value of the property is calculated below:

Step 3

The tax rate per \$1,000 assessed value is \$145.10...

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