Real Estate Math
A property was appraised at $250,000. The county uses 35% assessment. The tax rate is 55 mills. What is the semiannual tax bill?
A$2,012.50
B$2,406.25✓ Correct
C$4,025.00
D$4,812.50
Explanation
Assessed value = $250,000 × 35% = $87,500. Annual tax = $87,500 × 0.
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