Real Estate Math
A Hilton Head property has a fair market value of $750,000 (investment property). At a 6% assessment ratio and 150 mill rate, what is the annual tax?
A$5,250
B$6,750✓ Correct
C$7,500
D$10,500
Explanation
Assessed value = $750,000 × 6% = $45,000. Tax = $45,000 × 150/1,000 = $45,000 × 0.
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