Answer:
$15,674.75
Explanation:
First, we have to calculate the assessed value which can be determined using the below formula:
Assessed value=Appraised value of property*assessment level
=455,000*53%
=$241,150
The next step is to calculate the cost of each mill which can be calculated using the following formula:
Cost of each mill=Assessed value/1000
=241,150/1000
=241.15
The final step is to find the annual taxes, which can be calculated using the following formula:
Annual taxes=cost of each mill*number of mills
=241.15*65
=$15,674.75
