A property's market value is $2,250,000. The assessment rate is 15% with 28.55 mills. Find the annual property taxes.
Correct Answer
C) $9,635.63
Assessed Value = $2,250,000 × 0.15 = $337,500. Tax = $337,500 × 0.02855 = $9,635.63
Why This Is the Correct Answer
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