Tan properties has a building with a market value of 2 million in Mason Michigan Assuming a...

Question:

Tan properties has a building with a market value of 2 million in Mason, Michigan. Assuming a mileage rate of 40 mills and the required relationship between market value and assessed valuation in Michigan, What is the annual property taxes on this building?

Annual Property Tax

Annual property tax means the taxes which is paid on the property on the annually this is the main source of the revenue of the local authority and this will be available for deduction in the tax return.

Answer and Explanation:

Calculations of annual property tax
Particulars Calculations Amount
Assessed value...

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Property Taxes: Calculations & Rates

from Business 110: Business Math

Chapter 9 / Lesson 2
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