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

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Definitions:

Highest Oxidation

Refers to the maximum oxidation state an element can achieve in a compound, indicating the total number of electrons an atom can lose, gain, or share.

Organic Product

A chemical compound or substance that has been synthesized from organic (carbon-based) precursors.

Major Structure

The most stable or predominant arrangement of atoms in a molecule or the most significant resonance form of a compound when multiple structures are possible.

N-butanol

A four-carbon linear alcohol with the formula C4H9OH, used as a solvent and in the synthesis of various organic compounds.