2007-05-23 11:48:04 · 5 answers · asked by sylnyman 1 in Business & Finance ➔ Taxes ➔ United States
That's a 183.33% increase. Congrats! If the property qualifies as your personal residence (i.e. you've lived there for at least two of the past 5 years) the gain would be completely exempt from federal income taxes.
2007-05-24 06:15:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The value of your property DID NOT increase from $18,000 to $51,000 in one year. If the tax valuation increased by that amount in one year, the old value was WRONG. That said, $51,000 is 283% of 18,000.
2007-05-23 20:19:24 · answer #2 · answered by STEVEN F 7 · 0⤊ 1⤋
What is the percentage of what?? Are you one of those young high school grads that failed grammer. Incomplete question. I didn't complete high school.... I'm a GED achiever; stand and walk tall like The "Rock"!! Anyway, the answer is simple: It's a healthy increase..The government loves TAX!!!!! They'll tell you the increase, why worry??
Cundingy
2007-05-23 19:03:24 · answer #3 · answered by Cundingy 1 · 0⤊ 4⤋
183 1/3%
$33K/$18K = 1.8333
2007-05-23 18:57:11 · answer #4 · answered by Tom S 3 · 1⤊ 0⤋
there are several ways to calculate it.
either ((51000/18000) - 1)*100 or ((51000-18000)/18000)*100 gives the same result...183,33 percent.
2007-05-23 20:22:48 · answer #5 · answered by dirk_vermaelen 4 · 0⤊ 0⤋