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22 March, 11:37

Mrs. Smith owns a piece of Florida real estate. Her school board millage rate is 4.5, City rate is 3.8 and County rate are 2.4 mils. Her home has been assessed at $225,000. She has a homestead exemption. Using the base homestead exemption, how much money does Mrs. Smith save?

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  1. 22 March, 13:56
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    The answer is: $ 10,125.

    Explanation:

    Mrs. Smith has a farm exemption.

    The mileage rate of your school board is 4.5, which is the one that would correspond to your place of residence. Your home has been evaluated at $ 225,000 which multiplied by 4.5 and divided by 100 is equal to: $ 10,125.

    The answer is: $ 10,125.
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