Real Estate Math
A Missouri property has a tax rate (mill levy) of 8.5 mills per dollar of assessed value. The assessed value is $45,600. Annual taxes are:
A$387.60✓ Correct
B$3,876.00
C$456.00
D$4,560.00
Explanation
Annual taxes = Assessed Value x Mill Rate / 1,000 = $45,600 x 8.5 / 1,000 = $45,600 x 0.
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