Answer:
$3,445.50
Explanation:
Florida's homestead exemptions reduce $25,000 to a property's assessed value and applies to all property taxes: county, city and school district. A $25,000 additional exemption also applies for county and city taxes only.
For calculating school district taxes we must subtract $25,000 from the assessed value = $183,500 - $25,000 = $158,500, now we divide by $1,000 to calculate the mills = $158,500 / $1,000 = 158.5 which we must round up to 159.
To determine county and city taxes we should subtract 25 mills (equivalent to another $25,000 in homestead exemption) = 159 - 25 = 134
county taxes = 134 mills x $9.20 per mill = $1,232.80
city taxes = 134 mills x $8.80 per mill = $1,179.20
school district taxes = 159 mills x $6.50 per mill = $1,033.50
total property taxes = $1,232.80 + $1,179.20 + $1,033.50 = $3,445.50
