Real Estate Math
A property is assessed at $45,000. The millage rate is 85 mills. What are the annual property taxes?
A$3,825✓ Correct
B$3,975
C$4,125
D$4,500
Explanation
Property tax = Assessed value × Millage rate ÷ 1,000 = $45,000 × 85 ÷ 1,000 = $3,825. Using the values given ($45,000), apply the appropriate formula..
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