Question

If Inga Ingerton's property, valued at $35,000, is assessed at 40% of its value, and the mill levy is 83, then what is Inga's annual tax on this property?

Answer 1

Answer:

Annual tax = $ 1162

Step-by-step explanation:

Property value = $35000

To calculate annual tax:

Assessed value = $35000 * 0.40

                           = $ 14000

annual tax on assessed value:

Annual tax = $14000 *0.083

                  = $1162