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To Determine a Property's Annual Tax Liability in Dollars, It

Question 16

Multiple Choice

To determine a property's annual tax liability in dollars, it is useful to first convert the millage rate to an annual percentage. If the millage rate is 25 mills, determine the property tax rate in percentage form.


A) 0.025%
B) 0.25%
C) 2.50%
D) 25.00%

Correct Answer:

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