Given the Following Information, Calculate the Total Annual Tax Liability

question 32

Multiple Choice

Given the following information, calculate the total annual tax liability of the homeowner. Market value of property: $350,000, Assessed value of property: 40 % of the market value, Exemptions: $2,000, State Millage Rate: 0.25 mills, County Millage Rate: 13.70 mills.

• A) $34.50
• B) $1,890.60
• C) $1,925.10
• D) $4,685.10