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 $180,000 to $24,000, by how much will the property tax increase?
Pick one:
A) $32	B) $50	C) $480	D) $400	E) $500
Increase in house value = $24,000 - $18,000 =$8000   So, tax increase = 8% of$6000=$480   Answer: $480
<result>C</result>
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 $180,000 to $24,000, by how much will the property tax increase?