Real Estate Math
A Missouri property has a market value of $450,000. The commercial assessment ratio is 32%. The tax rate is 79 mills. What is the annual tax?
A$11,376✓ Correct
B$14,220
C$9,000
D$10,880
Explanation
Assessed value = $450,000 × 32% = $144,000. Tax = $144,000 × 79/1000 = $144,000 × 0.
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