Question

Norman Pruitt’s home has an assessed value of $175,000. The tax rate where he lives is 13 mills. What is his annual real estate tax?

A) $13,000
B) $17,500
C) $1,275
D) $2,275

Answer 1

The correct option is: D) $2,275

Explanation:

Norman Pruitt’s home has an assessed value of $175,000.

We know, 1000 mills = 1 dollar.

So, 13 mills
`=(13)/(1000)dollar = 0.013` dollar.

Thus, the tax rate is 0.013 dollar.

So, the amount of tax on an assessed value of $175000 will be:
`(175000* 0.013) dollars = 2275` dollars.

Thus, his annual real estate tax is $2275.