Real Estate Math
A Florida property is assessed at $240,000 with a $50,000 homestead exemption. At a millage rate of 20 mills, what is the annual tax?
A$3,800✓ Correct
B$4,200
C$4,800
D$5,000
Explanation
Taxable value = $240,000 - $50,000 = $190,000. Tax = $190,000 × 20 mills = $190,000 × 0.
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