Q3 - Given the following information, calculate the total annual tax liability of the homeowner. Market value of property: $350,000, Assessed value of property: 80 % of the market value, Exemptions: $7,000, Millage Rate: 33.95 mills Q4 - Given the following information, compute the effective tax rate for the particular piece of property in percentage terms. Market value of property: S300,000, Assessed value of property: $240,000, Exemptions: $50,000, Taxes paid: $4,500. Q5 - Given the following information, compute the taxable value for the particular piece of property in dollar terms. Market value of property: $400,000, Assessed value of property: 85 % of the market value of the property, Exemptions: $25,000, Taxes paid: S8,250. Q5B What is the millage rate for Q5