5
lesson pretestMultiple Choice

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Question 5 • Financial Math

A homeowner is comparing property taxes on a house valued at $⁢300,000 in two different counties. County X has a property tax rate of 1.1% , while County Y has a property tax rate of 1.5% What is the difference in annual property taxes between the two counties?

Answer
A
450 dollars
B
1 dollars comma 200
C
3 dollars comma 000
D
1 dollars comma 800

Explanation

County X’s annual tax is 1.1% of $300,000, or $3,300. County Y’s annual tax is 1.5% of $300,000, or $4,500. The difference is $4,500 − $3,300 = $1,200, so the correct choice is $1,200.

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