Real Estate Math
A property in Dayton has a market value of $198,000 and is assessed at 35%. The combined millage rate is 90 mills. What is the annual tax?
A$6,237✓ Correct
B$6,930
C$7,128
D$7,425
Explanation
Assessed value = $198,000 × 35% = $69,300. Annual tax = $69,300 × 0.090 = $6,237. To solve this, multiply the relevant values: $198,000 at 35%.. The correct answer is $6,237.. This is a common calculation on the Ohio real estate exam.
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