Real Estate Math
A Montana homeowner's property is assessed at $85,000 (taxable value) and the mill levy is 180 mills. What is the annual property tax?
A$15,300✓ Correct
B$1,530
C$153
D$4,722
Explanation
Property tax = Taxable Value x (Mill Levy / 1,000) = $85,000 x (180/1,000) = $85,000 x 0.18 = $15,300.
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