The millage rate in an area is 12.43 mills.
What is the amount of property tax for a $141,300 house?
you get it by multiplying 0.01243 by $141,300, and you get 1756.359
To calculate the amount of property tax for a $141,300 house with a millage rate of 12.43 mills, you can follow these steps:
Step 1: Convert the millage rate to a decimal. Divide the millage rate by 1,000.
Millage rate = 12.43 mills / 1,000 = 0.01243
Step 2: Multiply the assessed value of the property by the millage rate to find the property tax amount.
Property tax amount = assessed value × millage rate
Assessed value = $141,300
Property tax amount = $141,300 × 0.01243
Simplifying the multiplication:
Property tax amount = $1,756.619
Rounding the result to two decimal places:
Property tax amount = $1,756.62
Therefore, the amount of property tax for the $141,300 house would be approximately $1,756.62.
The answer is 1756.359.
12.43 mills = 0.01243 per $1000
so ...