A Texas homeowner's property is appraised at $300,000. The owner qualifies for the $100,000 school district homestead exemption. The school tax rate is $1.00 per $100. What is the annual school district tax?
Correct Answer
C) $2,000
Taxable value = $300,000 − $100,000 = $200,000. Tax = $200,000 / 100 × $1.00 = $2,000.
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