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A propertys assessed value is 80% of its market value of $130,000. The property owner owes 10 mills in school taxes, 9 mills in city
A propertys assessed value is 80% of its market value of $130,000. The property owner owes 10 mills in school taxes, 9 mills in city taxes, and 5 mills in county taxes and qualifies for a $20,000 homestead exemption. What is his effective property tax rate? A. 1.94% B. 2.02% C. 1.78% D. 2.64% E. 2.40% F. 1.55%
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