Real Estate Math
A Pennsylvania home is assessed at $210,000 with a tax rate of 22 mills. The homeowner qualifies for a $10,000 homestead exemption. What are the annual taxes?
A$4,620
B$4,400✓ Correct
C$4,840
D$2,200
Explanation
Taxable assessment = $210,000 − $10,000 homestead = $200,000. Tax = $200,000 × 22 mills = $200,000 × 0.
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