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What is the maximum assessed value in the current year

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Question - A homestead property was assessed in the previous year for $199,500. The rate of inflation based on the most recent CPI index is 1.5%. The Save Our Home amendment caps the increase in assessed value at 3%. What is the maximum assessed value in the current year for this homestead property?

$202,495.50 maximum assessed value.

$202,493.50 maximum assessed value.

$202,492.50 maximum assessed value.

$202, 494.50 maximum assessed value.

Reference no: EM132795332

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