Two years ago, elena purchased a condo. she has made some improvements on it, which increased the value of the property. property tax in her community is 1.25%. this table shows the value of elena’s condo over the last three years. value of property at purchase value of property last year value of property today $187,200 $188,550 $190,000 what can she expect to pay in property tax this year?

$2375

Explanation:

Because property tax is based on fair market value of the property on the valuation date, the payment is done taking into account the value of the property today. Then, it can be calculated as:.

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