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Given the following data, compute taxable value: Market value: 100,000 Assessment percentage: 85 percent. Exemption: 10,000 (1) With a tax rate of 25 mills, what

Given the following data, compute taxable value: Market value: 100,000 Assessment percentage: 85 percent. Exemption: 10,000

(1) With a tax rate of 25 mills, what is the amount of the property tax? (2) What is the effective property tax rate

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