To determine a property's annual tax liability in dollars, it is useful to first convert the millage rate to an annual percentage. If the millage rate is 25 mills, determine the property tax rate in percentage form.

Question

Quizplus · Accepted Answer

To convert the millage rate to a percentage, we need to move the decimal point three places to the left. So, 25 mills is equal to 2.5%. Therefore, the correct answer is C) 2.50%.

To Determine a Property's Annual Tax Liability in Dollars, It