If the tax rate is $6 per $100, what is the effective mill rate for a property in that scenario?

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To find the effective mill rate when the tax rate is $6 per $100, it's important to understand the relationship between tax rates and mill rates. A mill rate is a way of expressing property tax as a fraction of a property's assessed value, specifically, mills per dollar of assessed value.

In this case, the tax of $6 per $100 means that for every $100 of assessed value, the owner pays $6 in taxes. Since there are 1,000 mills in a dollar, we convert the dollar amount into mills. By multiplying the $6 rate by 10 (because $100 translates into 1,000 units when expressed in the context of mills), we determine that the effective mill rate is 60.

Thus, the correct answer, which reflects that conversion from a dollar amount to mills, is indeed 60. This demonstrates how taxation methodologies can be related within real estate contexts, especially in understanding how tax rates affect mill rates, which are pivotal in assessing property taxes.

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