Real Estate Math
A Nebraska home's assessed value for tax purposes is $298,500. The mill rate is 19.5 mills. The homeowner qualifies for a $40,000 veteran's exemption. Annual taxes are:
A$5,047.75
B$5,045.25✓ Correct
C$5,820.75
D$4,658.25
Explanation
Taxable value = $298,500 − $40,000 = $258,500. Annual tax = $258,500 × 19.
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