Question

script that mirrors a conversation that you might have with a family member regarding annual property taxes paid on your house/property. using these words a. Property Tax b. Percent of Appraised Value c. Mills (Millage Rate) d. Ad Valorem Tax e. Real Estate or Real Property.

Business Math

Answer 1

Let my family member be my UNCLE and my name be kumar.

UNCLE: Hi kumar, ur grwon up right! Do you have an idea about several taxes that were paid by your father annually.

ME: Ofcourse uncle.i do have knowledge about the taxes that were being paid by us annually. We pays tax every year for the property that we possess which comes under PROPERTY TAX and also my dad pays tax for newly purchased REAL ESTATE.

UNCLE: Oh, tats good really you had a good idea about your property haha! what was the APPRAISED VALUE for the REAL ESTATE?

ME: Actual APPRAISED VALUE was $2,00,000 , but my father bidded it for $2,20,000 as there were many competitors. so it became impossible for us to bid for low amount.

UNCLE: As you told you have also purchased several material for construction for your nwe construction project, are you aware of the Ad Valorem Tax?

ME: Yes Uncle, Im also aware of that Ad Valorem Tax as dad told me about that during the starting of the construction project. And MILLAGE RATE is also $5 per $1000 for the property.

UNCLE: Ok good, Improve your knowledge in each and every aspect in this manner only. Bye Take Care.

ME: Bye uncle.