12. the tax rate on jerome jame's $112,000 vacation home is 25 mills. the property is assessed at full value. how much will jerome pay in taxes this year? a. $780 b. $2,800 c. $7,800

B. $2,800

Step-by-step explanation:

Given : The price of Jerome Jame's vacation home (Assessed value)= $112,000

The  tax rate on Jerome Jame's vacation home = 25 mills

To calculate the property tax amount, we need to multiply the assessed value by the mill rate and then divides by 1,000.

The tax amount =

⇒ The tax amount =$2,800

Hence, Jerome will pay $2,800 in  taxes this year.

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