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How much is the annual tax bill (non-school taxes) on a property taxed at 9 mills with a $50,000 homestead exemption and an assessed value

  1. How much is the annual tax bill (non-school taxes) on a property taxed at 9 mills with a $50,000 homestead exemption and an assessed value of $250,000?
  2. What are the school, city, and county taxes on a homestead property with the following characteristics:
    • Assessed value = $400,00
    • School District = 5 mills
    • City = 6.5 mills
    • County 7 mills
  3. What are the IRS capital gain rules for the sale of a principal residence?
  4. If a foreigner sells property worth $400,00 ceteris parisbus, what would be the amount a buyer would have to withhold from the proceeds of the sale according to FIRPTA guidelines?

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