Bills home has an assessed value of 180000 The tax rate is 6
Bill’s home has an assessed value of $180,000. The tax rate is 65 mills. What is the tax on Bill’s home?
Solution
1 mill = $0.001
so,
65 mills = 65*$0.001
= 0.065 per dollar
tax = taxrate * assesed value
= 0.065 * $180000
= $11700
Answer: $11700
