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A couple bought a property ten years ago to use as a second home on...

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Accounting

A couple bought a property ten years ago to use as a second home on weekends. This second home is taxed on the basis of 60% of assessed value, at the rate of $2.50 per hundred. This has been the case for the last five years. However, since the year they bought, their yearly taxes have increased by $450. In the eyes of the tax assessor, how much has the property increased in value?

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