An Ohio property has a market value of $160,000. If Ohio assesses property at 35% of market value and the local school district levies 50 mills, how much of the annual tax goes to the school district?
Correct Answer
B) $2,800
Step 1: Assessed value = $160,000 × 0.35 = $56,000. Step 2: School district tax = $56,000 × 50/1000 = $56,000 × 0.050 = $2,800.
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