Real Estate Math
A Maine property with an assessed value of $320,000 and a homestead exemption of $20,000 has a mill rate of 16.5. The semi-annual tax bill is:
A$2,145
B$2,310
C$2,475✓ Correct
D$2,640
Explanation
Taxable value = $320,000 − $20,000 = $300,000. Annual tax = $300,000 × 16.
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