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Given the following information, calculate the total annual tax liability of the homeowner: Market Value of the Property is $ 4 0 0 , 0

Given the following information, calculate the total annual tax liability of the homeowner: Market Value of the Property is $

400, 000

The assessed value of the property is

100 %

of the market value.

There is a $

1, 000

exemption

The millage rate is

25

mills

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