Anytown, USA has a uniform percentage of 75%. A property in Anytown has a market value of $250,000. What is the assessed value of the property?

Rationale

The assessed value of the property is $187,500.

To calculate the assessed value, you multiply the market value by the uniform percentage. In this case, $250,000 multiplied by 0.75 (75%) yields an assessed value of $187,500.

A ($250,000) YOUR ANSWER

This choice represents the market value of the property, not the assessed value. The assessed value is determined by applying the uniform percentage to the market value, which in this case is 75% of $250,000.

B ($125,000) YOUR ANSWER

This amount is incorrectly calculated as it appears to represent a value that is too low for the assessed value based on the given percentage. It does not accurately reflect 75% of the market value, which would be significantly higher.

C ($150,000) YOUR ANSWER

This option is also incorrect as it does not result from applying the correct percentage to the market value. It is neither 75% of $250,000 nor does it reflect any logical calculation based on the problem's parameters.

D ($187,500) CORRECT

This is the correct assessed value, calculated by taking 75% of the market value of $250,000. This calculation confirms that the assessed value accurately reflects the uniform percentage applied to the property's market value.

Conclusion

The assessed value is derived from applying the specified percentage to the market value of a property. For Anytown, USA, with a property valued at $250,000, the assessed value is computed as 75% of that amount, resulting in $187,500. All other choices represent either incorrect calculations or misinterpretations of the assessment process.

Anytown, USA has a uniform percentage of 75%. A property in Anytown has a market value of $250,000. What is the assessed value of the property?

The assessed value of the property is $187,500.

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