What percentage of a property's assessed value is $150,000 if it is assessed at 35%?

What percentage of a property's assessed value is $150,000 if it is assessed at 35%?

• A. 25%
• B. 35%
• C. 45%
• D. 55%

Answer: (B)

To determine what percentage $150,000 represents of a property's assessed value when the property is assessed at 35%, first, you need to understand how assessed value is calculated. If the property is assessed at 35% of its actual market value, that means the assessed value is calculated as follows: Let’s represent the actual market value of the property as X. The assessed value would then be 0.35 * X. We can set up the equation based on the information provided: 0.35 * X = $150,000. To find the actual market value (X), rearrange the equation: X = $150,000 / 0.35. Calculating this gives: X = $150,000 / 0.35 = $428,571.43 (approximately). Now, to find what percentage $150,000 is of the assessed value, we know that the assessed value in this case is $150,000. Since it is assessed at 35%, we can confirm that $150,000 indeed represents 35% of the market value (X), which is about $428,571.43. Therefore, when looking for what percentage $150,000 is of the assessed value at 35%,

To determine what percentage $150,000 represents of a property's assessed value when the property is assessed at 35%, first, you need to understand how assessed value is calculated.

If the property is assessed at 35% of its actual market value, that means the assessed value is calculated as follows:

Let’s represent the actual market value of the property as X. The assessed value would then be 0.35 * X. We can set up the equation based on the information provided:

0.35 * X = $150,000.

To find the actual market value (X), rearrange the equation:

X = $150,000 / 0.35.

Calculating this gives:

X = $150,000 / 0.35 = $428,571.43 (approximately).

Now, to find what percentage $150,000 is of the assessed value, we know that the assessed value in this case is $150,000. Since it is assessed at 35%, we can confirm that $150,000 indeed represents 35% of the market value (X), which is about $428,571.43.

Therefore, when looking for what percentage $150,000 is of the assessed value at 35%,