Pregunta
All property tax in Wyoming is based on the assessed value of the property being taxed. For county
revenue, the tax rate cannot exceed
of the assessed value. Suppose that the assessed value of a hotel
is
and the tax rate is
. What is the property tax?
Property tax:
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revenue, the tax rate cannot exceed
is
Property tax:
Question Help:
Submit Question
Ask by Daniel Salazar. in the United States
Mar 29,2025
Solución de inteligencia artificial de Upstudy
Respuesta verificada por el tutor
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The property tax is $1,380.
Solución
-
The formula for the property tax is given by:
-
Substitute the given values into the formula:
-
Perform the multiplication:
Thus, the property tax is:
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Bonus Knowledge
To calculate the property tax, you can use the formula: Property Tax = Assessed Value × Tax Rate. In this case, the assessed value of the hotel is $92,000, and the tax rate is 1.5%, which can also be expressed as 0.015 in decimal form.
So,
.
Therefore, the property tax for the hotel is $1,380.
As a fun fact, property taxes are essential for funding local services like schools, roads, and emergency services. It’s amazing how your tax dollars contribute directly to community development and support!
If you’re ever unsure about your property tax assessments or tax rate, it’s best to check with your local county assessor’s office. They can provide guidance and ensure you’re not over or underpaying, keeping your finances transparent and stress-free!

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