Assessed Value

Assessed Value

Period 2- Math Finance

Poll

Assessed value is the same as market value.

• True

• False

based on a percentage of the appraised value which is used to determine how much property taxes you will owe on your home.

Assessed Value

how much your home is worth currently on the market

Market Value

Assessed Value vs. Market Value

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Kevin and Cathy Mackin have a mortgage with National Trust Bank. The bank requires that the Mackins pay their homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Their monthly mortgage payment is $1,233.56, their semi-annual property tax bill is $5,206, and their annual homeowner’s insurance bill is $1,080. How much is the monthly payment they make to National Trust?

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Show your work on paper.

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