1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lana [24]
2 years ago
13

A homesteaded property is located in Pensacola, Florida, in Escambia County. The city tax rate is 8.8 mills, the county tax rate

is 9.2 mills, and the school district tax rate is 6.5 mills. The homeowner is a widower and has qualified for homestead exemption. The home has been assessed at $183,500.. How much will the owner pay in property taxes?
Business
1 answer:
WITCHER [35]2 years ago
5 0

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

You might be interested in
Hich pricing strategy involves setting a high price for an exclusive, high-end product?
Sidana [21]
Yes, this encourages the buyer to pay more for an item especially if it is by a well known branded. This gives them to opportunity to brag and boast with their purchase. Also when the product is well known consumers are going to try their absolute best to buy it, this is going to make the product scare, hence increasing its price.
3 0
2 years ago
The theory of ____________ states that a nation should produce and sell goods to other countries that it produces most efficient
nikitadnepr [17]

comparative advantage theory is the answer

4 0
3 years ago
Water and air are examples of _____ resources while people are considered to be _____ resources
kiruha [24]

Answer:

the answer is natural;human

7 0
2 years ago
What is Average cost
Vladimir79 [104]
Arvrage cost is the total cost divided by the number of units.
5 0
3 years ago
1. What does it mean to set up an “automatic deposit” and why is this a good savings strategy?
Andrews [41]

Answer:

an automatic deposit will put a set amount of money away into savings without you having to do it that way you will not have to worry about it and won't be tempted to spend it instead of saving it. it's a good strategy because it eliminates that temptation and makes it so much easier to save without falling off track

3 0
2 years ago
Other questions:
  • Trini Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 8,100
    5·1 answer
  • Compare and contrast the role of management, as reflected by management theory, in the 20thcentury organization with the role of
    9·1 answer
  • Dyan, the owner of expert restoration services, inc., adheres to the "principle of rights" theory. under this theory, a key fact
    6·2 answers
  • What are the necessary capital investments for starting a free-range poultry farm?
    12·1 answer
  • Which of the following is likely the lowest paid job listed?
    11·2 answers
  • Asset retirement obligations:
    7·1 answer
  • The nominal rate of interest is comprised of: both the real rate of interest and compensation for inflation. compensation for in
    14·1 answer
  • Which of the following statements about buying centers is true?
    12·1 answer
  • A homesteaded property is located in Jupiter, Florida, in Palm Beach County. The property has been assessed at $185,000. The cit
    6·1 answer
  • Vaughn Manufacturing purchased equipment for $39200. Sales tax on the purchase was $2352. Other costs incurred were freight char
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!