Conquer the 2026 VanEd National Real Estate Test – Unlock Your Property Passion!

To determine the property tax based on the assessed value and mill rate, you first need to understand how to convert the mill rate into a decimal and then apply it to the assessed value. The mill rate is expressed in mills, where one mill represents $1 per $1,000 of assessed value.

In this case, a mill rate of 50 means that for every $1,000 of assessed property value, $50 will be charged in taxes.

To calculate the property tax:

1. Convert the mill rate to a decimal value: Divide the mill rate by 1,000. This can be calculated as 50 / 1,000 = 0.050.

2. Multiply the assessed value by the mill rate in decimal form:

Property Tax = Assessed Value x Mill Rate

Property Tax = $33,000 x 0.050 = $1,650.

Thus, the correct property tax is $1,650. This aligns with the calculation method for property taxes based on the assessed value and mill rate, confirming that the most appropriate answer is $1,650.