Question

The Vacaville tax assessor determined that the market value of the Perry’s house is $132,000. The rate of assessment in Vacaville is 50% of market value. The tax rate is 48.75 mills. What is the real estate tax on the Perry’s house?

1 point
$32.18
$321.75
$3217.50
$6435.00

Answer 1

$3217.50

Explanation:

The tax is computed as ...

($132,000)(1/2)(48.75/1000) = 66·48.75 = 3217.50

The real estate tax on the Perry's house is $3217.50.