Question
A property has an assessed value of $210,000.The homeowner qualifies for homestead exemption. The applicable millage rates are 10city, 10 county, and 9.8 school mills.
- A property has an assessed value of $210,000.The homeowner qualifies for homestead exemption. The applicable millage rates are 10city, 10 county, and 9.8 school mills.
Calculate the property taxes due.
Group of answer choices
$6,013 total taxes due.
$7,013 total taxes due.
$5,013 total taxes due.
$8,013 total taxes due.
2.How much in tax savings does this owner realize by homesteading the property?
Group of answer choices
$1,245 total tax savings.
$1,265
$1,255 total tax savings.
$1,275
3.Assume the property is located outside the city limits. Calculate the applicable property taxes.
Group of answer choices
$3,413 total taxes due.
$3,513 total taxes due.
$3,713 total taxes due.
$3,613 total taxes due.
5.Assume the property owner is a legally blind widower. The owner lives within the city limits. Calculate the applicable property taxes.
Group of answer choices
$4,986.20
$4,985.20
$4,983.20 total taxes due.
$4,984.20
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started