Say that you pay property taxes of $2458.20 every year. If your state has a property tax rate of 0.082, what is the assessed value of your property?

Property tax equals the assessed value multiplied by the tax rate, so divide the tax bill by the rate: $2,458.20 ÷ 0.082 ≈ $29,978. The assessed value is about $29,978, which is choice A.

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