Answer: 8%
Step-by-step explanation:
Given : Property taxes on a business office = $840.
The assessed value of the business office = $105,000
Required formula :
Tax value = (Tax rate divide by 100) x Assessed value
i.e. Tax rate = (Tax value divided by Assessed value) x
i.e. Tax rate = ($840 ÷$105,000) x 100 = 0.08 x 100 = 8%
Therefore , the required tax rate = 8%
