Real Estate Math
A Colorado home appraised at $590,000 is assessed at 6.765% (residential assessment ratio). The mill levy is 78 mills. What are the annual property taxes?
AA. $3,111✓ Correct
BB. $31,110
CC. $311,100
DD. $3,115
Explanation
Assessed Value = $590,000 × 6.765% = $590,000 × 0.
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