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A residence in Mundane County has gross assessed value of $15,000. Its owner qualifies for an old age exemption of $1,000 and a homestead exemption

A residence in Mundane County has gross assessed value of $15,000. Its owner qualifies for an old age exemption of $1,000 and a homestead exemption of $2,000. The property tax rate is $5.00 per $100 of assessed value. What will the property tax bill equal on this property?

The property tax bill will equal $ _________ (express your answer in dollar and round off to the nearest 10th if necessary, e.g., 335.5).

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