Given:
The assessment value = $399,000.
The local tax rate is $6.01 per $100 of the assessment.
Required:
We need to find the annual property tax.
Explanation:
[tex]A\text{nnual property tax = }\frac{\text{\$6.01}}{100}\times\text{the assessment value}[/tex][tex]A\text{nnual property tax = }\frac{\text{\$6.01}}{100}\times399000[/tex][tex]A\text{nnual property tax = \$23979.90.}[/tex]Final answer:
[tex]A\text{nnual property tax = \$23,979.90.}[/tex]