Real Estate Math
A Missouri property's appraised value is $310,000. The assessed value for residential property is 19% of that. If the tax rate is 8 mills, annual taxes are:
A$470.80✓ Correct
B$4,708.00
C$24,800
D$2,480
Explanation
Assessed value = $310,000 x 0.19 = $58,900.
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