Answer: $5,000
Explanation:
given data:
tax ratio = 80%
valuation of the house = $250,000
tax rate = $2/$100.
solution:
total annual tax
= $250,000 /$100
= $2500
total tax rate = $2/$100
= $2 * $2,500
= $5,000.
therefore, the total tax due to be payed annually is $5000. This would have not been the case if it has been 80% generally.
