The property taxes on a business office were $960. What was the tax rate if the business office was

The property taxes on a business office were $960. What was the tax rate if the business office was valued at $80,000?

Tax Rate = 100% * Tax Amount / Office Value
Tax Rate = 100% * 960 / 80000
Tax Rate = 100% * 0.012
Tax Rate = 1.2%