Real Estate Math
A Florida property has taxable value of $185,000 and a millage rate of 24 mills. What is the annual tax bill?
A$4,440✓ Correct
B$4,740
C$4,200
D$4,320
Explanation
Property tax = $185,000 × (24 ÷ 1,000) = $185,000 × 0.024 = $4,440. Using the values given ($185,000), apply the appropriate formula.. The correct answer is $4,440.. This is a common calculation on the Florida real estate exam.
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