Question

A property is located in Bryan, Texas. It is subject to taxes from three different taxing...

A property is located in Bryan, Texas. It is subject to taxes from three different taxing authorities:

City of Bryan = $0.629990 per $100 of value

Brazos County = $0.497500 per $100 of value

Bryan ISD = $1.270000 per $100 of value

Based on the tax rates above, what is the total tax rate per $100 of value for the property in Bryan, Texas?

a. $0.629990

b. $1.270000

c. $2.00

d. $2.397490

e. $2.749390

Using the total tax rate answer from Question above, what would the estimated tax amount be for a property in Bryan, Texas that is assessed at a value of $200,000?

a. $2,397.49

b. $47,949.80

c. $4,794.98

d. $5,589.88

e. $479.50

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Answer #1

Q) Based on the tax rates above, what is the total tax rate per $100 of value for the property in Bryan, Texas?

=> It is given that it is subject to taxes from 3 different authorities, that is $0.629990 per $100 of value , $0.497500 per $100 of value and $1.270000 per $100 of value

=> Since all the taxes are given per $ 100 , we need to add all the different taxes to get the total taxes per $ 100

=> 0.629990 + 0.497500 + 1.270000 = 2.397490

=> Therefore the answer is option d. $ 2.397490

Q) Using the total tax rate answer from Question above, what would the estimated tax amount be for a property in Bryan, Texas that is assessed at a value of $200,000?

=> We know the tax rate is 2.397490 % , multiply the tax rate and the value of property ( $ 200,000) to get the estimated tax amount , 2.397490% * 200000 = $ 4,794.98

=> Therefore the answer is option c. $ 4,794.98

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