Given that the tax rate is 2.5%, then, the amount that Kelly will likely pay annually in property taxes is $4,000.
What is a property tax?
This is a type of tax imposed on the purchase of property in a particular region.
Given data
Assessed value is $160,000
Tax rate is 2.5%
Tax payable = $160,000 * 2.5%
Tax payable = $4,000
Therefore, the tax payable on the property is $4,000.
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