Real Estate Math
A Wyoming property has a market value of $500,000. It is assessed at 9.5% of market value. The mill rate is 60 mills. What is the annual property tax?
A$2,450
B$2,850✓ Correct
C$3,000
D$2,500
Explanation
Assessed value = $500,000 × 9.5% = $47,500.
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