Real Estate Math
A Michigan property is assessed at $165,000 with a millage rate of 35 mills. What is the annual property tax?
A$5,775✓ Correct
B$5,250
C$4,950
D$6,300
Explanation
Annual tax = Assessed value × millage rate = $165,000 × (35 ÷ 1,000) = $165,000 × 0.035 = $5,775.
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