Bill Shass pays a property tax of $3,200. In his community, the tax rate is 51 mills. What is Bill’s assessed value? (Round your answer to the nearest dollar amount. Omit the "$" sign in your response.)

Answer 1

A 51 mill rate is 5.1% of the assessed value, assuming there is no exemption.

The assessed property value is therefore 3200/0.051 = 62,745.