### 5.3 Property Tax

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• 15. Percentage of Taxes Going to Schools

The circle graph shows the types of property taxes collected in a state in one year. What percent of the property taxes went to K-12 schools? See Example 5.)

• Worked-Out Solution

From the circle graph, it appears that about 40% of the property taxes went to K-12 schools.

You can check this using division.

So, about 42% of the property taxes went to K-12 schools.

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```  ______     ___       _____     ___      _  _
/_   _//   / _ \\    / ___//   / _ \\   | \| ||
`-| |,-   | / \ ||   \___ \\  / //\ \\  |  ' ||
| ||    | \_/ ||   /    // |  ___  || | .  ||
|_||     \___//   /____//  |_||  |_|| |_|\_||
`-`'     `---`   `-----`   `-`   `-`  `-` -`

```
• 16. Military Exemption

The circle graph shows the types of property taxes collected in a state in one year. Without the military exemption, the state would have collected about 0.06% more in property taxes. Estimate the total military exemption. (See Example 5.)

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

The circle graph shows the types of property taxes collected in a state in one year. Without the homestead tax credit, the state would have collected about 2.3% more in property taxes. Estimate the total property taxes that would have been collected without the homestead tax credit. (See Example 5.)

• Worked-Out Solution

2.3% of \$4.3 billion is

So, without the homestead tax credit, the county could have collected a total of in property taxes.

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```  _____      ___     _____      ______    ____
/ ____||   / _ \\  |  __ \\   /_   _//  |  _ \\
/ //---`'  | / \ || | |  \ ||   -| ||-   | |_| ||
\ \\___    | \_/ || | |__/ ||   _| ||_   | .  //
\_____||   \___//  |_____//   /_____//  |_|\_\\
`----`    `---`    -----`    `-----`   `-` --`

```
• 18. Veteran Exemption

In New York, veterans of the following conflicts can receive property tax exemptions on their primary residence, as detailed in the table.

• Persian Gulf War
• Vietnam War
• Korean War
• World War II
• World War I
• Mexican Border Period

A veteran of the Korean War did not serve in a combat zone and is not disabled. He applies for the military exemption. The assessed value of his Class 1 home is \$150,000. How much does he save on property taxes when the tax rate is 85 mills? (See Example 6.)

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```            ______   _____       ___      ______
___    /_   _// |  __ \\    / _ \\   /_   _//
/   ||   -| ||-  | |  \ ||  | / \ ||    | ||
| [] ||   _| ||_  | |__/ ||  | \_/ ||   _| ||
\__ ||  /_____// |_____//    \___//   /__//
-|_||  `-----`   -----`     `---`    `--`
`-`
```
• 19. Veteran Exemption

In New York, veterans of the following conflicts can receive property tax exemptions on their primary residence, as detailed in the table.

• Persian Gulf War
• Vietnam War
• Korean War
• World War II
• World War I
• Mexican Border Period

A non disabled veteran of the Persian Gulf War who served in a combat zone applies for the military exemption. The assessed value of her Class 2 property is \$140,000. How much does she save on property taxes when the tax rate is 32 mills? (See Example 6.)

• Worked-Out Solution

The verteran will save

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```  ______     ___                _____
/_____//   / _ \\    ____     |  ___||     ___
`____ `   / //\ \\  |    \\   | ||__      /   ||
/___//   |  ___  || | [] ||   | ||__     | [] ||
`__ `    |_||  |_|| |  __//   |_____||    \__ ||
/_//     `-`   `-`  |_|`-`    `-----`      -|_||
`-`                 `-`                     `-`
```
• 20. Solar and Wind Power

Texas offers a property tax exemption on qualifying wind and solar power energy devices, such as the solar hot water system shown. These devices generally increase the assessed value of a home. This increase is the amount of the exemption. (See Example 6.)

1. After installation of the hot water system, the assessed value of a home increases by \$15,000 to a total of \$175,000. How much is the exemption?
2. The county tax rate is 9 mills. How much does the exemption save the homeowner in county taxes?

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