Real Estate Math
A Montana property is assessed at 100% of market value. The market value is $175,000 and the mill levy is 120 mills. What is the annual property tax?
A$2,100
B$14,583
C$21,000✓ Correct
D$1,458
Explanation
Property tax = $175,000 x (120/1,000) = $175,000 x 0.12 = $21,000.
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