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Jenny’s home appraised for $550,000. Her asking price was $560,000 and the property sold for $575,000. What will the new owners pay in property taxes?
$5,500 the first year, plus a maximum 2% increase in market value per year
$5,600 every year, with no increase
$5,750 the first year, plus a maximum 2% increase in market value per year
$5,750, plus a maximum 1% increase in market value per year
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