Question

In python 3,

A county collects property taxes on the assessment value of property, which is 60% of the property's actual value. For example, if a property is valued a $50,000, it's assessment value is $30,000. The property tax is then $0.56 for each $100 of the assessment value. The tax for the property assessed at $30,000 will be $168.00. Write a function called propertyTax that takes a property's actual value and returns the property tax using 60% for the assessment value and $0.56 per $100 of assessment value to calculate the tax. Round to 2 decimal places.

Answer 1

def propertyTax(value, tax_rate):
    tax = value * 0.6 * (tax_rate / 100)
    return round(tax * 100) / 100