Homeowners Insurance

The replacement value of Joe Cruce's home is $200,000. He has insured his home for 60% of its replacement value. The home is of wood-frame construction and has been rated in fire protection class 7. What is the annual premium?

Tags

CCSS.HSS.MD.B.6

CCSS.HSS.MD.B.7

Replacement cost is $200,000

Insured at 75%

Brick, protection class 11

Tags

CCSS.HSS.MD.B.6

CCSS.HSS.MD.B.7

The Smith's own a wood-frame home in an area rated fire protection class 1. Their two-family home has replacement value of $250,000 and is insured for 80%. What is their annual premium?

How do you find the tax rate as a decimal?

• Move the decimal 2 places to the left.

• Divide by 1,000

• Move the decimal to the right 2 places.

• Move the decimal to the left 3 places.

What is the tax rate 56.87 mills as a decimal?

Ajani Zeta’s home is located in Baton Rouge, Luisiana, where the rate of assessment is 10% of market value.  The tax rate is 54.523 mills.  His home has a market value of $480,000.  What is its property tax?

Amanda Wolpert’s home in Richmond, Virginia, has an assessed value of $74,200. The tax rate where she lives is 25.13 mills. What is her annual real estate tax?

What is the tax rate 29.514 as a decimal?

Assessment value: $125,000

Tax rate: 27.758 mills

How much is the property tax?

The Butler County tax assessor determines that the market value of Greg Wilson’s home is $123,000. The rate of assessment in Butler County is 28% of market value. What is the assessed value of Greg’s home?