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? A. $640 B. $440 C. $1,600 D. $2,000
20 mills means that you have to pay $20 for every 1,000 of value. The standard computation of tax based on the millage rate is to multiply the rate to the value of the property and divide the product by 1,000. 20 x $80,000 = $1,600,000 $1,600,000 ÷ 1,000 = $1,600 Harriet Walker should pay C.) $1,600 for property tax.