Real Estate Math
A Utah property is worth $655,000. It is assessed at 55% of value. The mill levy is 12 mills. What are the annual taxes?
A$1.00✓ Correct
B$4,312.50
C$7,860
D$4,200
Explanation
Assessed value = $655,000 × 55% = $360,250. Annual taxes = $360,250 × (12/1000) = $360,250 × 0.
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