Multiple Choice
Given the following information, calculate the effective tax rate expressed in mills. Market value of property: $280,000, Assessed value of property: 50 % of the market value, Exemptions: $2,000, Annual tax liability: $4,685.10.
A) 1.69 mills
B) 3.35 mills
C) 16.73 mills
D) 33.95 mills
Correct Answer:
Verified
Correct Answer:
Verified
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