Real Estate Math
A Louisiana property is assessed at $22,000. The total millage rate is 92 mills. After applying the $7,500 homestead exemption, what is the annual tax bill?
A$1,334✓ Correct
B$2,024
C$1,334.00
D$1,150
Explanation
Taxable assessed value = $22,000 − $7,500 = $14,500. Tax = $14,500 × 92/1,000 = $14,500 × 0.092 = $1,334.
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