Question

Van and her brother Trung both own homes valued at $175,000. Both pay property taxes at 1.25% and pay annual taxes of $2,187.50. They live in different neighborhoods. Van’s property value is expected to increase by 5% next year.Trung’s property value is expected to increase by 3%. How will these changes affect their property taxes? Check all that apply. Van’s property tax will increase. Trung’s property tax will be less than Van’s. Trung’s property tax will decrease compared to Van’s. Van’s property tax will be less than Trung’s. Trung’s property tax will increase.

Answer 1

Answer: Van's property tax will increase.

Trung's property tax will be less than Van's.

Trung's property tax will increase.

Explanation: Van’s property tax will increase because the value of his home is expected to increase more than Trung’s property value. Since Van’s property value is increasing and increasing more than Trung’s, Trung’s will be less than Van’s. Trung’s property tax is increasing due to the value increasing.

Answer 2

Answer:

Van's property tax will increase.

Trung's property tax will be less than Van's.

Trung's property tax will increase.

Explanation:

Property tax is the amount of money that you have to pay the government just because of the fact of owning property, and how much you pay depends specifically on how much is your property valued at, so if you have a more expensive property you will have to pay more percentage in taxes, and if it is valued at a lower point you´d have to pay less taxes, so from the options if Vans property is valued higher than Trung and it increases its value more than Trung´s he will have to pay more in property taxes, as well as that of Trungs, but Van´s property tax will be more than that that Trungs will pay, eventhough both increase.