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5.3 Property Tax

5.3 Property Tax
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  • 1. Property Tax in Lewiston, New York

    Find (a) the property tax for a $200,000 home in Lewiston, New York, and (b) the effective property tax rate in Lewiston. (See Example 1 and Example 2.)

    • Worked-Out Solution

      a. The property tax for a $200,000 home in Lewiston, New York is

      b. The effective property tax rate in Lewiston is

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      _____      ___     __   _     ______    ______  
     |__  //    / _ \\  | || | ||  /_   _//  /_   _// 
       / //    / //\ \\ | '--' ||   -| ||-   `-| |,-  
      / //__  |  ___  ||| .--. ||   _| ||_     | ||   
     /_____|| |_||  |_|||_|| |_||  /_____//    |_||   
     `-----`  `-`   `-` `-`  `-`   `-----`     `-`'   
                                                      
    
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    Cody (moderator)6 years ago |
    These worked-out solutions can be a great help when doing your homework.
    Just remember:
    I know it makes things easier to simply copy the worked-out solutions when doing your homework, but I recommend you try and solve the problem yourself, and then check your answer with the worked-out solution afterwords. You will be much more confident when you take a test if you've learned the reasoning behind the math, and not just how to get to the answer.
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  • 2. Property Tax in Jamestown, New York

    Find (a) the property tax for a $200,000 home in Jamestown, New York, and (b) the effective property tax rate in Jamestown. (See Example 1 and Example 2.)

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       _____    _____    _    _      ___      ______  
      / ___//  |  ___|| | \  / ||   / _ \\   /_   _// 
      \___ \\  | ||__   |  \/  ||  | / \ ||  `-| |,-  
      /    //  | ||__   | .  . ||  | \_/ ||    | ||   
     /____//   |_____|| |_|\/|_||   \___//     |_||   
    `-----`    `-----`  `-`  `-`    `---`      `-`'   
                                                      
    
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  • 3. Property Tax in Fulton, New York

    Find (a) the property tax for a $200,000 home in Fulton, New York, and (b) the effective property tax rate in Fulton. (See Example 1 and Example 2.)

    • Worked-Out Solution

      a. The property tax for a $200,000 home in Fulton, New York is

      b. The effective property tax rate in Fulton is

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      _  _     ______    ______     ___      _____   
     | \| ||  /_   _//  /_   _//   / _ \\   |__  //  
     |  ' ||   -| ||-   `-| |,-   / //\ \\    / //   
     | .  ||   _| ||_     | ||   |  ___  ||  / //__  
     |_|\_||  /_____//    |_||   |_||  |_|| /_____|| 
     `-` -`   `-----`     `-`'   `-`   `-`  `-----`  
                                                     
    
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  • 4. Property Tax in Bolton, New York

    Find (a) the property tax for a $200,000 home in Bolton, New York, and (b) the effective property tax rate in Bolton. (See Example 1 and Example 2.)

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     ______     ______  __    __     ___              
    |      \\  /_   _// \ \\ / //   / _ \\    ____    
    |  --  //   -| ||-   \ \/ //   | / \ ||  |    \\  
    |  --  \\   _| ||_    \  //    | \_/ ||  | [] ||  
    |______//  /_____//    \//      \___//   |  __//  
    `------`   `-----`      `       `---`    |_|`-`   
                                             `-`      
    
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  • 5. Property Tax in Saratoga Springs, New York

    Find (a) the property tax for a $200,000 home in Saratoga Springs, New York, and (b) the effective property tax rate in Saratoga Springs. (See Example 1 and Example 2.)

    • Worked-Out Solution
      1. The property tax for a $200,000 home in Saratoga Springs, New York is

      2. The effective property tax rate in Saratoga Springs is

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                 ___      ______    _____      _____  
        ___     / _ \\   /_   _//  |  ___||   / ___// 
       /   ||  | / \ ||    | ||    | ||__     \___ \\ 
      | [] ||  | \_/ ||   _| ||    | ||__     /    // 
       \__ ||   \___//   /__//     |_____||  /____//  
        -|_||   `---`    `--`      `-----`  `-----`   
         `-`                                          
    
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  • 6. Property Tax in Cohoes, New York

    Find (a) the property tax for a $200,000 home in Cohoes, New York, and (b) the effective property tax rate in Cohoes. (See Example 1 and Example 2.)

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     __   __   _    _     ____       ___       _____  
     \ \\/ // | || | ||  |  _ \\    / _ \\    / ___// 
      \   //  | || | ||  | |_| ||  / //\ \\   \___ \\ 
      / . \\  | \\_/ ||  | .  //  |  ___  ||  /    // 
     /_//\_\\  \____//   |_|\_\\  |_||  |_|| /____//  
     `-`  --`   `---`    `-` --`  `-`   `-` `-----`   
                                                      
    
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  • 7. Relocating

    You accept a job in Albany. You are moving from a different state and narrow your home search to a $150,000 house in Saratoga Springs and a $140,000 house in Cohoes.

    1. Which house has higher property taxes? How much higher are the taxes?
    2. The drive to work from the home in Saratoga Springs takes twice as much time as the drive to work from the house in Cohoes. Based on driving time, property taxes, and home price, which house do you prefer? Explain.

    • Worked-Out Solution
      1. Your property tax in Saratoga Springs is

        Your property tax in Cohoes is

        So the property taxes in Cohoes are $1295.23 greater than in Saratoga Springs.

      2. Suppose the drive from Saratoga Springs is 40 miles more round trip. At 200 trips per year with gas mileage of 20 miles per gallon and fuel cost of $4 per gallon, the additional cost of fuel (in commuting from Saratoga Springs) would be

        The additional cost of fuel in commuting from Saratoga Springs overshadows the difference in property tax. With the house in Cohoes costing $10,000 less, the most economical choice is to buy the home in Cohoes.

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                ______  __    __     ___      _  __  
        ___    /_   _// \ \\ / //   / _ \\   | |/ // 
       /   ||   -| ||-   \ \/ //   / //\ \\  | ' //  
      | [] ||   _| ||_    \  //   |  ___  || | . \\  
       \__ ||  /_____//    \//    |_||  |_|| |_|\_\\ 
        -|_||  `-----`      `     `-`   `-`  `-` --` 
         `-`                                         
    
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    Jackie (moderator)5 years ago |
    Thanks for your comment! I'll make sure to send it to the editorial team for review.
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    system user
    Guest   5 years ago |
    I get $1,600 for the commute: 40 x 200 x 1/20 * $4/gal = $1,600, not $4,040!!!
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  • 8. Village of Lakewood

    A village near Jamestown claims that the owner of a $90,000 house pays a total of $3243.60 in property taxes, of which $642.60 goes to the village.

    1. What is the combined tax rate?
    2. How much does the owner of a $120,000 house in the village pay in property taxes? How much goes to the village?
    3. The circle graph shows how village tax dollars are spent. How much of the village taxes in part (b) go toward snow removal? police?

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               __   __    _  __   _    _   __    __  
        ___    \ \\/ //  | |/ // | || | || \ \\ / // 
       /   ||   \ ` //   | ' //  | || | ||  \ \/ //  
      | [] ||    | ||    | . \\  | \\_/ ||   \  //   
       \__ ||    |_||    |_|\_\\  \____//     \//    
        -|_||    `-`'    `-` --`   `---`       `     
         `-`                                         
    
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