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Property Tax
Madison County collects property taxes on the assessed value of property, which is 60 percent of its actual value. For example, if a house is valued at $ 158,000, its assessed value is $94,800. This is the amount the homeowner pays tax on. At last year’s tax rate of $2.64 for each $100 of assessed value, the annual property tax for this house would be $2502.72. Write a
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