To Find the Tax Amount when Worth and Tax Rate % are given (WP-6 Property Tax)

Q. Find the property tax on a property of Rs.650,000 at the rate of 1.8%.

Given:

Worth of the property = Rs.650,000 

Tax rate = 1.8% 

To Find:

Property tax (Tax Amount) = ? 

Solution:

The General Formula for calculating Property Tax is 

or

Property tax (Tax Amount) = 1.8% of Rs.650,000

Property tax (Tax Amount) =`{\frac1.8{100}}` x  Rs. 650,000

Property tax (Tax Amount) = Rs.11,700

Thus, an Amount of  Rs.11,700 property tax will be paid by the buyer on a property worth Rs.650,000 at a rate of 1.8 %.

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