Real Estate Math
A Wyoming property's market value is $375,000. The county assessor uses a 9% assessment ratio. The mill levy is 75 mills. What is the annual tax bill?
A$2,531.25✓ Correct
B$25,312.50
C$3,375
D$28,125
Explanation
Assessed value = $375,000 × 9% = $33,750. Annual tax = $33,750 × (75 ÷ 1,000) = $33,750 × 0.075 = $2,531.25.
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