Real Estate Math
A property's assessed value is $80,000 and the tax rate is 45 mills. What is the annual property tax?
A$3,200
B$3,600✓ Correct
C$4,000
D$4,500
Explanation
Tax = Assessed Value × Mill Rate ÷ 1,000. Tax = $80,000 × 45 ÷ 1,000 = $80,000 × 0.
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