Answer: 1280 dollars
Step-by-step explanation:
Given that the assessed value of a property is $ 16,000.
If the tax rate is $8/$100 of value. That is, 8 dollars in every 100 dollars.
Divide both value of the property by 100.
16000/100 = 160 dollars
Then, multiply it by 8 dollars
8 × 160 = 1280 dollars
The annual tax for the property is therefore, 1280 dollars.
OR
First find the rate or percentage of the tax which will be:
8/100 = 8%
Find the 8% of the value of the property which is 16000 dollars
8/100 × 16000 = 1280 dollars
