def taxes(assessedvalue, propertytaxrate):
    """Return annual taxes for property.

    :param assessedvalue: Property value calculated using a 6 month CMA as of January 1st of given year.
    :type assessedvalue: double
    :param propertytaxrate: Rate charged by city for owning property.
    :type propertytaxrate: double
    :return: double

    """
    return assessedvalue * propertytaxrate