To solve the problem, we need to use the information given to find the tax on a property assessed at [tex]$850,000$[/tex], given that the property tax on a property assessed at [tex]$860,000$[/tex] is [tex]$15,480$[/tex]. Additionally, we know that the tax rates are proportional.
The correct proportion to use is:
[tex]\[ \frac{15480}{860000} = \frac{x}{850000} \][/tex]
We will solve this proportion step by step:
1. Set up the equation:
[tex]\[ \frac{15480}{860000} = \frac{x}{850000} \][/tex]
2. Cross-multiply to solve for [tex]\( x \)[/tex]:
[tex]\[ 15480 \times 850000 = x \times 860000 \][/tex]
3. Simplify the multiplication:
[tex]\[ 15480 \times 850000 = 13158000000 \][/tex]
4. Divide the product by 860000 to solve for [tex]\( x \)[/tex]:
[tex]\[ x = \frac{13158000000}{860000} \][/tex]
5. Perform the division:
[tex]\[ x \approx 15299.999999999998 \][/tex]
So, the tax on a property assessed at [tex]$850,000 would be approximately $[/tex]15,300.
