Answer: 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 = [tex]\$112,000\times\frac{25}{1000}[/tex]
⇒ The tax amount =$2,800
Hence, Jerome will pay $2,800 in taxes this year.
