How much will the property taxes be for a property valued at $495,000 with an exemption applied?

To determine the property taxes for a property valued at $495,000 with an exemption applied, one needs to consider the tax rate and the impact of the exemption.

The value of the property before any exemptions is $495,000. The property tax is typically calculated by multiplying the assessed value of the property (after any exemptions are applied) by the local tax rate.

If the exemption is significant enough, it can drastically reduce the assessed value, thereby lowering the property tax owed. The value arrived at in this example, $5,724.60, likely stems from a specific tax rate applied to the property after the exemption has been factored in.

Assuming a typical tax rate applicable in the area contributed to determining this figure, the calculation could look something like this:

1. Determine the exempt amount and subtract that from the total valuation.

2. Apply the corresponding tax rate to the new assessed value to arrive at the total property tax bill.

Thus, the answer indicates a methodical calculation beginning with the valuation, applying the exemption, and ultimately utilizing a known tax rate to yield the property tax of $5,724.60.