If the tax rate on homes in Topeka, Kansas is 1.8 percent of their value and Bonnie owns a $100,000 house, how much will the re

Question

If the tax rate on homes in Topeka, Kansas is 1.8 percent of their value and Bonnie owns a $100,000 house, how much will the real estate taxes add to her monthly mortgage payment?

the real estate taxes add to her monthly mortgage payment?

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Kylie 1 month 2021-10-15T05:00:33+00:00 1 Answer 0 views 0

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    2021-10-15T05:01:46+00:00

    Answer:

    $150

    Step-by-step explanation:

    Annual Real Estate Tax Rate =1.8%

    Value of Bonnie’s House = $100,000

    Annual Tax= 1.8 % × $100,000 =0.018 × $100,000 = $1,800

    Therefore, tax payment on a monthly basis

    = $1,800÷12 Months

    = $150 per month.

    Real estate tax will add $150 per month to Bonnie’s mortgage payment.

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