Answer:
$14620 is collected as tax for a property of $860,000
Explanation:
Let the tax rate on every property in Tacoma be x%. A property worth $430,000 was taxed $7,310. This implies that:
[tex]\frac{x}{100} *$430000=$7310[/tex]
multiplying through by 100 we get:
[tex]\frac{x}{100} *$430000*100=$7310*100[/tex]
[tex]430000x=731000[/tex]
Dividing through by 430000 to get:
[tex]\frac{430000x}{430000}=\frac{731000}{430000}[/tex]
x = 1.7%
Therefore the tax rate in Tacoma is 1.7%.
Since all tax rate is proportional, for a property of $430,000 the tax is $7,310, for a property of $860,000 let the tax be $y
Therefore [tex]y=\frac{860000*1.7}{100} =14620[/tex]
This means that $14620 is collected as tax for a property of $860,000
