Question

The tax rate on Jerome Jame's $112,000 vacation home is 25 mills. The property is assessed at full value. How much will Jerome pay in taxes this year?

A. $7,800
B. $2,800
C. $28,000
D. $780

Answer 1

Answer: Option 'B' is correct.

Explanation:

Since we have given that

Amount of vacation home of Jerome Jame = $112000

Rate of tax = 25 mills

means, 25 on each $1000.

So, Amount of tax paid by Jerome is given by

`(25)/(1000)* 112000\\\\=25* 112\\\\=\$2800`

Hence, Option 'B' is correct.