It should be noted that in the formula
from page 224, the market value used is the one determined by the assessor not the appraiser.
In Example 1, the property tax was calculated by multiplying the tax rate, the assessment level, and the market value. In Example 3, the assessed value is given. So, the property tax is calculated by multiplying the tax rate and the assessed value.
To change the tax rate in Example 3 to decimal form, divide by 1000, as shown.
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Your monthly home insurance bill is
Your annual property tax is
Your monthly property tax bill is
Your total monthly payment is
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