Property Tax (Java coding) A county collects property taxes on the assessment value of property, which is 60 percent of the propertys actual value. If an acre of land is valued at $10,000 its assessment value is $6000. The property tax is then $0.64 for each $100 of the assessment value. The tax for the acre assessed at $6,000 will be $38.40. Create a GUI application that displays the assessment value and property tax when a user enters the actual value of a property.