Tim's Arizona City residential property has an assessed value of $43,500. If the tax rate is 4%, what is Tim's tax bill?

To calculate Tim's tax bill, you must apply the tax rate to the assessed value of the property. The assessed value is $43,500 and the tax rate is 4%.

To find the tax bill, you multiply the assessed value by the tax rate, which is expressed as a decimal. Thus, you convert the percentage by dividing 4 by 100, giving you 0.04.

Now, you perform the calculation:

Tax Bill = Assessed Value × Tax Rate Tax Bill = $43,500 × 0.04 Tax Bill = $1,740.00

This resulting amount of $1,740.00 represents Tim's tax bill for the residential property. This methodology accurately reflects how property taxes are typically calculated based on assessed value and tax rates.

The choice of $1,740.00 correctly demonstrates this calculation process and is indeed Tim's tax liability for the property in question.