Chapter 3 – #16: Senior Citizen Property Tax – Tony Gaddis – Starting Out With C++

>_ Problem

Madison County provides a $5,000 homeowner exemption for its senior citizens. For example, if a senior’s house is valued at $158,000 its assessed value would be $94,800, as explained above. However, he would only pay tax on $89,800. At last year’s tax rate of $2.64 for each $100 of assessed value, the property tax would be $2,370.72. In addition to the tax break, senior citizens are allowed to pay their property tax in four equal payments. The quarterly payment due on this property would be $592.68. Write a program that asks the user to input the actual value of a piece of property and the current tax rate for each $100 of assessed value. The program should then calculate and report how much annual property tax a senior homeowner will be charged for this property and what the quarterly tax bill will be.

>_ Solution

#include <iostream>
#include <iomanip>
using namespace std;

int main()
{
    // Constant Variables
    const float ASSESSMENT_PER = 0.60;

    const int   FIVE_THOUSAND  = 5000,
                HUNDRED        = 100,
                FOUR           = 4;

    // Variables
    float value_of_property,
          current_tax_rate,
          total_annual_property_tax,
          quarterly_tax_bill;

    cout << endl;
    cout << "------------------------------------------\n";
    cout << "What is the value of the property? ";
    cin  >> value_of_property;
    cout << "What is tha current tax rate? ";
    cin  >> current_tax_rate;
    cout << "------------------------------------------\n";

    // Calculate annual property tax for senior homeowner
    total_annual_property_tax = (((value_of_property * ASSESSMENT_PER) - FIVE_THOUSAND) / HUNDRED) * current_tax_rate;

    // Calculate the quarterly tax bill
    quarterly_tax_bill = total_annual_property_tax / FOUR;

    // Display annual property tax and quarterly tax bill.
    cout << setprecision(2) << fixed << right;
    cout << "-------------------------------------------\n";
    cout << "Value of the property: $";
    cout << setw(11) << value_of_property;

    cout << "\nAnnual property tax:   $";
    cout << setw(11) << total_annual_property_tax;

    cout << "\nQuarterly tax bill:    $";
    cout << setw(11) << quarterly_tax_bill;

    cout << "\n-----------------------------------------\n";
    cout << endl;

    // Terminate Program
    return 0;
}

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>_ Video Walk Through

This video includes a step by step process of how I solve programming challenge #16.

>_That’s it!

Thank you for taking interest in what I do! I hope it was helpful for you as much as it helped me along my journey in learning to code!

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Category: Starting Out With C++ | Chapter 3 | Programming Challenge Solutions

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