If a new home sells for $350,000 with a tax rate of $0.825 per hundred, what will be the annual taxes on the property?

To calculate the annual property taxes based on the sale price of the home and the tax rate, you first need to understand how the tax rate is applied. The tax rate provided is given per hundred of assessed value.

1. Start by calculating how many hundreds are in the sale price of the home. Since the home sells for $350,000, you divide this amount by 100:

[

350,000 \div 100 = 3,500

]

This tells you that there are 3,500 hundreds in $350,000.

2. Next, multiply the result by the tax rate, which is $0.825 per hundred:

[

3,500 \times 0.825 = 2,887.50

]

This calculation gives you the total annual taxes on the property.

Thus, the correct answer reflects the amount of annual taxes owed on this property, which is $2,887.50. This comprehensive approach ensures that the application of the tax rate to the assessed value is clear and correctly executed, leading to the determination of the property tax obligation.