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14 December, 23:00

Emma's property is assessed at $650,000. Her property qualified for a $50,000 homestead tax exemption and was appraised at $800,000. What is the taxable value of Emma's property? $650,000? $800,000? $600,000? $750,000?

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  1. 15 December, 00:30
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    The assessed value is the basis for tax calculations. The taxable value is the assessed value less any applicable exemptions.

    taxable value = $650,000 - 50,000 = $600,000.
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