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What is the annual real estate tax on a property valued at $135,000 and assessed for tax purposes at $47,250, with an equalization factor of 125%, when the tax rate is 25 mills

Respuesta :

ayokenny2001

Answer:

$1,477

Explanation:

The annual real estate tax = assessed tax × equalization factor × tax rate

= $47,250 × 125% × 25 mills

= $47,250 × 125% × 2.5%(25 mills)

= $47,250 × 1.25 × 0.025

= $1,477

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