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

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

```
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• 17. Homestead Tax Credit

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

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

```
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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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``` _    _     _____    _    _    __   __   _    _
| |  | ||  |  ___|| | |  | ||  \ \\/ // | |  | ||
| |/\| ||  | ||__   | |/\| ||   \ ` //  | |/\| ||
|  /\  ||  | ||__   |  /\  ||    | ||   |  /\  ||
|_// \_||  |_____|| |_// \_||    |_||   |_// \_||
`-`   `-`  `-----`  `-`   `-`    `-`'   `-`   `-`

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

```
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