The tax rate on Harriet walkers 80,000 vacation home is 20 mills the property is assessed at full value how much will Harriet walker pay in taxes this year
To calculate Harriet Walker's taxes on her vacation home, we need to determine the assessed value of the property based on the given information.
The tax rate is 20 mills, which means that for every dollar of assessed value, Harriet will pay 0.02 dollars in taxes. Since the property is assessed at full value, the assessed value is the same as the property's market value, which is $80,000.
So, Harriet's tax liability for the year can be calculated as follows:
Tax liability = Tax rate * Assessed value
Tax liability = 0.02 * $80,000
Tax liability = $1,600
Therefore, Harriet Walker will pay $1,600 in taxes this year on her vacation home.
To calculate the amount Harriet Walker will pay in taxes, we need to multiply the assessed value of the vacation home by the tax rate.
1. First, convert the tax rate from mills to a decimal.
20 mills = 20/1000 = 0.02
2. Multiply the assessed value by the tax rate.
Tax amount = Assessed value x Tax rate
= $80,000 x 0.02
= $1,600
Therefore, Harriet Walker will pay $1,600 in taxes this year for her vacation home.
To calculate how much Harriet Walker will pay in taxes for her vacation home, we need to understand what the term "mills" means. "Mills" is a unit used to denote property tax rates. One mill represents one-tenth of one percent or 0.001.
In this case, the tax rate on Harriet Walker's vacation home is 20 mills, which means she will be taxed at a rate of 0.02 (20/1000).
To determine the amount she will pay in taxes, we need to multiply the assessed value of her property by the tax rate. However, the question does not provide the assessed value of her vacation home. Without this information, we cannot calculate the exact tax amount.
If you have the assessed value of the property, you can multiply it by the tax rate (in decimal form) to find the tax amount. For example, if the assessed value is $100,000, you would multiply $100,000 by 0.02 to get the tax amount.