Real Estate MathCâu 120 / 120
A property assessed at $250,000 is taxed at a millage rate of 20 mills. What is the annual tax?
a.$500
b.$50,000
c.$2,500
d.$5,000
Giải thích
One mill equals $1 per $1,000 of assessed value, so 20 mills is $20 per $1,000. Tax equals $250,000 / 1,000 x 20 = $5,000. Millage rates are a common way local governments express property tax rates.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
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