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How do you figure the assessed value when all you know are the property tax amount...

How do you figure the assessed value when all you know are the property tax amount $4100 and the tax rate in mills 50 mills?

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Answer #1

Final answer

Assessed value = $ 8200

Explanation

Let the assessed value = X

Tax rate = 50%

Property tax = X * 50% = 4100 ( given)

X = 4100 / 0.50

X = 8200

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