Question

In Township K each property is taxed at 8 percent of its assessed value. If the assessed value of a property in Township K is increased from $20,000 to $24,000, by how much will the property tax increase?

Answer 1

tax on 20000= 8/100×20000
=1600
tax on 24000=8/100×24000
=1920
increased property tax=1920-1600=320

Answer 2

The percentage of tax is 8 %

And The increased value of property is 20,000 to 24,000

So

20,000 × 8 /100

= 1600

And 24,000 × 8 /100

1820
The increase tax of property is
= 1600 - 1920 = 320