Question

An assessment rate is 47%. The property tax rate is $39.94 per $1,000. What is the effective tax rate?

Answer 1

Can you help me

Answer 2

39.94 per 1000 = 39.94/10 per 1000/10

Answer 3

OK

Answer 4

So property tax rate = 3.994 %

Answer 5

that's the answer?

Answer 6

Now add up both the rates to find the total rate!

Answer 7

OK

Answer 8

:)

Answer 9

43.934

Answer 10

Which will be 47 + 3.994 = 50.994 %

Answer 11

Is that it

Answer 12

You add them to find the total rate

Answer 13

OK

Answer 14

Ya :)
You understand?

Answer 15

Yeah

Answer 16

So I add 50.994 with 39.94

Answer 17

Right?

Answer 18

No! You convert 39.94 per thousand to percent

Answer 19

OK

Answer 20

Then what

Answer 21

You get how to do it? Or you want me to try again? I'm free so you can ask all you want.

Answer 22

I think I got it

Answer 23

I can explain the whole concept to you

Answer 24

Nope I got it now

Answer 25

Per cent means per hundred. So you need to convert both to per cent and then add them both.
For example, 47 % = 47 parts for every 100

Answer 26

OK

Answer 27

So 39.94 parts for every thousand means 3.994 parts every 100.

Answer 28

OK

Answer 29

So you want to add both the tax rates. 47 parts per hundred + 3.994 parts equals to?

Answer 30

50.994

Answer 31

right

Answer 32

:)
Yeah!
You got it now? If you have any more problems you can ask right away. Because this concept is really important.

Answer 33

OK and that is the answer right

Answer 34

Nope

Answer 35

Yeah that is the final answer