Real Estate Math
A West Virginia property has an assessed value of $180,000 (at 60% of market value). The millage rate is 28 mills. What is the annual tax?
A$3,024
B$5,040✓ Correct
C$3,360
D$2,520
Explanation
Tax = Assessed Value x Millage Rate = $180,000 x 0.028 = $5,040.
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