What is the assessment value of a home with a market value of $144,700, which is assessed at 72%?

• A. $104,000
• B. $91,224
• C. $78,000
• D. $102,700

Answer: (B)

To find the assessment value of a home based on its market value and assessment percentage, you multiply the market value by the assessment rate.

In this case, the market value of the home is $144,700, and it is assessed at 72%. To calculate the assessment value, you would perform the following calculation:

Assessment Value = Market Value × Assessment Rate

Assessment Value = $144,700 × 0.72

Now, let's do the math:

Assessment Value = $144,700 × 0.72 = $104,784

Given the calculation, it seems there's an error in the options provided or the understanding of the question since this specific calculation doesn’t match the provided answer or other options available.

However, if we are indeed looking for the given answer, it is important to confirm that you are calculating based on the correct rates and understand how to apply percentages in future problems.

The correct method would be essential for accurate financial assessments, making this understanding important for financial literacy and tax calculations.