A Florida property has a taxable value of $145,000 and a combined millage rate of 16.5 mills. What is the annual ad valorem tax?
Correct Answer
D) $2,392.50
Millage means tax per $1,000 of taxable value. So the tax is $145,000 ÷ 1,000 × 16.5 = $2,392.50.
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