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The tax rate on Ned Topolino's 112000 vacation home is 25 mills The property is assessed at full value How much will Ned pay in taxes this year?
Updated: 11/9/2022
Wiki User
∙ 9y agoBest Answer
One mill equals 1/10th of a cent (.001). To determine how much Ned will pay in taxes this year, multiply the number of mills by .001. Ned's tax rate is 25 mills. Multiply 25 by .001 = .025 (rate) . Multiply the assessed value (112,000) by the rate (.025) = $2,800. Ned will pay $2,800 in taxes this year.
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∙ 9y agoThis answer is:
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