Answered

Expand your horizons with the diverse and informative answers found on IDNLearn.com. Find the solutions you need quickly and accurately with help from our knowledgeable community.

The Smith family pays a rate of 27 mills in property tax. The assessed value of their home is $98,000. What is their property tax?

Sagot :

Ajinemsidn

Their property tax would be =$ 26,460

Calculation of property tax

A mill is one-thousandth of a dollar, and in property tax terms is equal to $1.00 of tax for each.

Therefore 27 mills = $27 for every $1,000 of assessed value, or 2.7%.

To calculate the property tax would

= 27/100× 98,000

= 2646000/100

=$ 26,460

Therefore, Their property tax would be =$ 26,460

Learn more about percentage here:

https://brainly.com/question/24304697

#SPJ1

We greatly appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. IDNLearn.com has the solutions to your questions. Thanks for stopping by, and see you next time for more reliable information.