0
Still curious? Ask our experts.
Chat with our AI personalities
Vivi
Ezra
RossAdd your answer:
Earn +20 pts
John and Mary Billings own a condominium with an assessed value of 110000.If the tax rate is 25 mills per 1.00 of assessed valuation how much tax do they pay?
To calculate the property tax, first convert the tax rate from mills to a decimal. A rate of 25 mills means 25/1000, or 0.025. Next, multiply the assessed value of the condominium ($110,000) by the tax rate (0.025): $110,000 x 0.025 = $2,750. Therefore, John and Mary Billings will pay $2,750 in property tax.
How do you add tax to a price?
If the tax is 10 percent and the price of the item is $1.00 then you simply calculate 10% of 1.0. = 10 cents and add it to the original price.You would charge the person $1.10 (including tax).The simple way to calculate the final price mathematically is to express the percent as a decimal and add 1 to it. Then multiply the price by this number.I.e If the tax is 5.6% you would express this a 0.056 + 1 = 1.056 and multiple the pre tax price by this number.
How do you find the total cost of a item with tax?
First you calculate the amount of the tax on the item. Then you add together the original cost of the item and the tax.
What is the sales tax of 400000 if the sales tax is 1.5 percent?
You have to calculate 400,000 x 1.5 / 100. (Percent means hundredths; the idea is to calculate 1.5 hundredths of the amount.)
How much is 5.50 dollars plus tax?
To calculate the total amount of $5.50 plus tax, you need to know the sales tax rate for your location. For example, if the sales tax rate is 7%, you would calculate the tax as $5.50 x 0.07 = $0.39. Adding this to the original amount gives you a total of $5.50 + $0.39 = $5.89. Adjust the calculation based on your local tax rate.
