You have some property which has an assessed value of $220,500. If the tax rate is 45.30 mills, calculate the tax due (in $).

$ _______

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Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.)

Community	Total Assessed Property Valuation	Total Taxes Required	Property Tax Rate
			Percent	Per $100 (in $)	Per $1,000 (in $)	Mills
Masonside	$654,000,000	$32,500,000	%_________	$__________	$________	__________

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You own an a home with an assessed value of $183,400. The tax rate is $2.20 per $100 of assessed value.(Round anwser to nearest cent)

What is the amount of property tax (in $)? $_________

If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? $___________

If the state charges a mandatory 3 1/2% penalty for late payments, how much (in $) would the tax bill amount to if you paid late? $___________

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Using the standard deduction table above, complete the following table (in $ ). When finding your client's taxable income, which deduction did you use? standard deduction itemized deductions