Property Tax
A county collects property taxes on the assessment value of property, which is 60% of the property’s actual value. If an acre of land is valued at $10,000, its assessment value is $6,000. The property tax is then $0.64 for each $100 of the assessment value. The tax for the acre assessed at $6,000 will be $38.40. Create an application that displays the assessment value and property tax when a user enters the actual value of a property. Use the following test data to determine if the application is calculating properly:
Actual Property Value | Assessment and Tax |
100,000 | Assessment value: $ 60,000.00 Property tax: 384.00 |
75,000 | Assessment value: 45,000.00 Property tax: 288.00 |
250,000 | Assessment value: 150,000.00 Property tax: 960.00 |
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