Assume that a property’s current property tax rate is 0.88 percent, and the current rate of inflation is 2.9 percent. According to the information presented in the paragraph above, how could the rate of inflation affect the amount of property taxes paid on this property?

a. The total amount of property taxes due on this property could be increased by 2.9 percent to adjust for the rate of inflation.
b. The assessed value of the property could be increased by 2.9 percent to factor in the rate of inflation.
c. The property tax rate applied to the property could be increased to one percent to factor in the rate of inflation.