Real Estate Math
A Washington homeowner's property has an assessed value of $520,000 and receives a senior exemption that reduces the taxable value by $60,000. At a mill rate of 10 mills, what is the annual tax?
A$4,600✓ Correct
B$5,200
C$5,800
D$6,000
Explanation
Taxable value = $520,000 − $60,000 = $460,000. Tax = $460,000 ÷ 1,000 × 10 = $4,600.
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