Real Estate Math
A Kansas property has a market value of $215,000. The county assesses residential property at 11.5% of market value, and the mill levy is 105 mills. What is the annual property tax?
A$2,481.13
B$2,600.25✓ Correct
C$3,225.00
D$2,257.50
Explanation
Assessed value = $215,000 × 0.115 = $24,725.
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