Question

The millage rate in an area is 12.43 mills. What is the amount of property tax for a $141,300 house? Enter your answer as a dollar value, such as: 3456.78

Answer 1

Answer:

Amount of property tax for a $141,300 house with millage rate in an area 12.43 mills is  $1756.36.

Step-by-step explanation:

A millage rate is the tax rate used to calculate local property taxes . It represents the amount per every $1,000 of a property's assessed value.

We have, 12.43 mills (12.43/1000 ) as millage rate i.e. which means for every $1,000 assessed value, $12.43 in property taxes is due.  

∴ Homeowner owes : $141,300 × ( 12.43/1000 ) = $1756.36 property tax.