Real Estate Math
A Nebraska property's assessed value is $195,000. The assessment ratio is 100% of market value. The mill rate is 22 mills. Annual property taxes are:
A$4,290✓ Correct
B$3,646
C$4,934
D$3,900
Explanation
Annual taxes = Assessed Value × Mill Rate ÷ 1,000 = $195,000 × 22 ÷ 1,000 = $195,000 × 0.022 = $4,290.
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