The tax rate on Harriet Walker's $80,000 vacation home is 20 mills. The property is assessed at full value. How much will Harriet Walker pay in taxes this year?

Question

A. $640
B. $440
C. $1,600
D. $2,000

Answer 1

"Property tax in dollar terms is calculated by multiplying the assessed property value and the mill rate and dividing by 1,000."

(80,000 * 20)/1000 = ________

http://www.investopedia.com/terms/m/millrate.asp

Answer 2

1600