What is the monthly tax amount if the assessed value is $201,500 and the tax rate is 0.63%?

To find the monthly tax amount based on the assessed value and tax rate, you first need to convert the tax rate from a percentage to a decimal for calculation purposes. The tax rate of 0.63% can be expressed as 0.0063 in decimal form.

Next, multiply the assessed value of $201,500 by the tax rate in decimal form:

[

201,500 \times 0.0063 = 1,268.45

]

This calculation gives you the total annual tax amount. Since the question asks for the monthly tax amount, you then divide the annual tax by 12:

[

\frac{1,268.45}{12} = 105.7041667

]

Rounding this to two decimal places gives a monthly tax amount of approximately $105.79.

The correct answer reflects this calculation, making it clear how the monthly tax amount is derived from the assessed value and the tax rate.