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Tyler purchased a home eight months ago for $160,000. The assessed value of his home is $120,000 and the appraised level currently is $167,000. What amount will Tyler's ad valorem taxes be based on?

Respuesta :

Answer:

$120,000

Explanation:

Data provided in the question

Purchase value of the home eight months ago = $160,000

The assessed value = $120,000

Appraised value = $167,000

By considering the above information, the ad valorem taxes is based on the assessed value i.e $120,000

So, the ad valorem taxes amount is $120,000 as this taxes is always based on the assessed value rather appraisal value or purchase vaue are given

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