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1 February, 16:07

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

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  1. 1 February, 16:22
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    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.
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