Question

A homeowner's tax statement lists the following mill rates for various municipal
services:
Service
Mill Rate
Schools
6.75
City
7.21
Water
0.92
Sewers
0.87
What is the property tax on a house assessed at $300,000?​

Answer 1

Solution :-

various municipal services ----- Service Mill Rate(in %)

Schools ------------------------------------------- 6.75

City ------------------------------------------------- 7.21

Water ---------------------------------------------- 0.92

Sewers -------------------------------------------- 0.87

so,

→ Total service rate = 6.75 + 7.21 + 0.92 + 0.87 = 15.75% .

then,

→ The property tax on a house assessed at $300,000 = 15.75% of $300,000 = (15.75 * 300000)/100 = $47,250 (Ans.)

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