Sebastian and Mia want to buy a home valued at $250,000. The property tax for this location is 1%. Based on the current value of the home, what would their property tax be?
Answer
A
$25
B
$250
C
$2,500
D
$25,000
Explanation
Convert 1% to a decimal: 1% = 0.01. Multiply the home's value by the tax rate: $250,000 × 0.01 = $2,500, so the property tax is $2,500 (choice C).
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