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Wen Hung Is Buying a Building to Open an Alterations

question 35

Multiple Choice

Wen Hung is buying a building to open an alterations business. One building costs $205,000 with a property tax rate of $4.45 per $100 on 60% assessed value. A second building costs $195,000 with a property tax rate of 42 mills per dollar on 75% assessed value. What is the difference in the property tax amounts?

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Code of Federal Regulations

A collection of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government of the United States.

Discretionary Powers

Authority granted to individuals or bodies to make decisions and act according to their judgment and wisdom within the bounds of their legal authority, often seen in administrative and government contexts.

Ministerial Nature

Pertains to duties or functions that are performed according to prescribed procedures or laws, without room for personal judgment or discretion.

Regulatory Violations

Acts or omissions by entities that fail to comply with laws and regulations governing their operation.