SOLUTION: Question please. If a house was purchased for $80,000, the property taxes were $1400.00. If improvements were made and the new home value is $120,000.00, what is the new property t

Algebra ->  Proportions -> SOLUTION: Question please. If a house was purchased for $80,000, the property taxes were $1400.00. If improvements were made and the new home value is $120,000.00, what is the new property t      Log On


   

Question 286205: Question please. If a house was purchased for $80,000, the property taxes were $1400.00. If improvements were made and the new home value is $120,000.00, what is the new property tax? What I came up with is 1400/80000= ? /120000= $2100.00. Is this correct? Please advise. Thank you.
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
The tax rate as a percent is 1400%2F80000+=+.0175, 1.75%
The tax on 120000 is .0175%2A120000+=+2100
You are correct