Homeowners enjoy benefits, including a federal tax deduction for state and local
ID: 2533913 • Letter: H
Question
Homeowners enjoy benefits, including a federal tax deduction for state and local property taxes paid. Madison, Wisconsin, earned the #1 spot in Livability.com’s 2015 top 100 Best Places to Live Ranking. With a median home price of $222,300, if the property tax rate is $23.7963 per $1000, how much does the average homeowner pay in property tax?Average homeowner pay in property tax $_________ Homeowners enjoy benefits, including a federal tax deduction for state and local property taxes paid. Madison, Wisconsin, earned the #1 spot in Livability.com’s 2015 top 100 Best Places to Live Ranking. With a median home price of $222,300, if the property tax rate is $23.7963 per $1000, how much does the average homeowner pay in property tax?
Average homeowner pay in property tax $_________
Average homeowner pay in property tax $_________
Explanation / Answer
Average homeowner pay in property tax = 222300/1000*23.7963= $5289.92
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