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Calculating City And State Taxes Finite Math Problem? |
Find the state of affairs and city property taxes on an apartment assessed at $833,000 if the state tax is 4% of the assessed value after first deducting the city tax and the city tax is 1% of the assessed value after first deducting the land tax.
Let the assessment = A (= $833,000)
Let the situation tax = S
Let the city tax = C
Then S = 4% of (A - C) and
C = 1% of (A - S)
S = (A - C)/25
C = (A - S)/100
25S = A - C
100C = A - S
25S + C = A
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