Real Estate Math
A Louisiana property has a market value of $320,000 and is assessed at 10%. If the millage rate is 75 mills, what is the annual tax bill before any exemption?
A$2,400✓ Correct
B$3,200
C$2,000
D$1,600
Explanation
Assessed value = $320,000 × 10% = $32,000. Tax = $32,000 × 75/1,000 = $32,000 × 0.
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