The mill rate of a residential property in a municipality is 8 mills and the property tax
Question:
The mill rate of a residential property in a municipality is 8 mills and the property tax for an industrial property is 1.25 times that of a residential property.
a. Calculate the property tax for a residential property assessed at $280,500.
b. Calculate the property tax for an industrial property assessed at $460,000.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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