Real Estate Math
A Colorado property assessed at $35,000 with a mill levy of 92 mills. What is the annual property tax?
A$2,576
B$3,220✓ Correct
C$3,864
D$32,200
Explanation
Property tax = Assessed value × Mill levy = $35,000 × 92 mills = $35,000 × 0.092 = $3,220.
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