Given the below information, calculate the effective tax rate expressed in mills. Market value of property: $495,672,

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Given the below information, calculate the effective tax rate expressed in mills.

Market value of property: $495,672,

Assessed value of property: 85% of the market value,

Exemptions: $7,748,

Annual tax liability: $9,264.65.

Answer should be formatted as a mill rate with two decimal places.

Related Book For answer-question

Government and Not for Profit Accounting Concepts and Practices

ISBN: 978-1118155974

6th edition

Authors: Michael H. Granof, Saleha B. Khumawala

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Posted Date: May 05, 2023 07:03 AM

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Given the below information, calculate the effective tax rate expressed in mills. Market value of property: $495,672,

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First we need to calculate the taxable value of the property Taxable value Assessed value E... View the full answer

Government and Not for Profit Accounting Concepts and Practices

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