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djyliett [7]
3 years ago
11

"A municipality has a tax rate of 18 mills. A piece of real property in the municipality is assessed at $180,000 and has a fair

market value of $165,000. The annual tax liability on the property is:"
Business
1 answer:
White raven [17]3 years ago
5 0

Answer:

$3,240

Explanation:

Calculation for the annual tax liability on the property

Using this formula

Annual tax liability= (Tax rate× Real property )

Where= Tax rate =18 million

Real property=180,000

Let plug in the formula

Annual tax liability=( .018x180000)

Annual tax liability=$3,240

Therefore the annual tax liability on the property is $3,240

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3 years ago
Dolan Company's accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31, 2016Raw materials inventory $300,00
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$700,000

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Lucky started a new business last year. Since it was the first year of operation, the business purchased $10,000 in machinery an
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Bakers are much likely to supply pastries to the market if property rights are not enforced. True or false?.
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The statement bakers are much likely to supply pastries to the market if property rights are not enforced is <u>false</u>.

<h3>What is property rights? </h3>

Property rights can be defined as the right given to person to own and use their property they way they like or wish to use it.

The statement is not true because bakers are much likely to supply their pastries to the market if property rights are enforced.

Therefore the statement bakers are much likely to supply pastries to the market if property rights are not enforced is <u>false</u>.

Learn more about property right here:brainly.com/question/913138

brainly.com/question/22370263

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