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Pete's Warehouse Has a Market Value of $5,000,000

Question 87

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Pete's Warehouse has a market value of $5,000,000. The property in Pete's area is assessed at 40% of the market value. The tax rate is $105.10 per $1,000 of assessed valuation. What is Pete's property tax?

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$5,000,000 × .4 = $2...

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