For a new home sold at $350,000, with a tax rate of $.825 per hundred, what is the annual tax calculated on the property?

To calculate the annual tax on the property, you first need to understand how the tax rate works. The tax rate is expressed as a rate per hundred dollars of value. In this case, the tax rate is $0.825 for every hundred dollars.

1. Calculate the taxable units: Since the home is sold for $350,000, you want to find out how many hundreds are in that amount. This can be done by dividing the sale price by 100:

[

350,000 \div 100 = 3,500

]

So, there are 3,500 units of hundred dollars in the total price of the home.

2. Calculate the total tax: Now, multiply the number of hundred units by the tax rate:

[

3,500 \times 0.825 = 2,887.50

]

Thus, the annual tax calculated on the property is $2,887.50. This means that the answer is accurate since it reflects the multiplication of the number of taxable units by the tax rate, leading to the correct tax amount based on the given property price.