When the millage rate is stated as "23.2216", how much would an individual pay for each $1,000 of assessed value?

To determine how much an individual would pay for each $1,000 of assessed value when the millage rate is provided as "23.2216," it is essential to understand the definition of a millage rate. A millage rate represents the amount per $1,000 of assessed value that taxpayers owe in property taxes.

In this case, the millage rate of "23.2216" means that for every $1,000 of property value, the individual will pay $23.2216 in taxes. When dealing with millage rates, it's common to round to two decimal places, especially for practical purposes in taxation. Hence, it is appropriate to round "23.2216" to "23.22" when calculating the payment amount per $1,000. Therefore, the correct amount that an individual would pay for each $1,000 of assessed value is $23.22, confirming that the answer is accurate.

This understanding is crucial for working with property taxes, as it provides a clear basis for calculating tax obligations based on assessed property values.