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Emma's property is assessed at $650,000. Her property qualified for a $50,000 homestead tax exemption and was appraised at $800,000. What is the taxable value of Emma's property? $650,000? $800,000? $600,000? $750,000?

Respuesta :

sqdancefan
The assessed value is the basis for tax calculations. The taxable value is the assessed value less any applicable exemptions.

  taxable value = $650,000 -50,000 = $600,000.

Answer:

$600,000

Step-by-step explanation:

Emma's property is assessed at $650,000.

Her property qualified for a $50,000 homestead tax exemption and was appraised at $800,000.

Emma's taxes will be based on the assessment and not the appraisal.

She also gets the $50,000 tax reduction.

Hence, the taxable value of Emma's property will be = [tex]650000-50000=600000[/tex] dollars.

The answer is $600,000

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