We have to calculate the real estate tax for a year.
The tax rate is 83.21 mills.
The rate of assessment is 30%.
The market value of the property is $367,500.
NOTE: a tax rate of 1 mill represents $1 of tax per $1000 of assessed value.
Then, we start by calculating the assessed value of the property.
This will be the market value times the rate of assessment:
[tex]\begin{gathered} Assessed\text{ }value=market\text{ }value*assessment\text{ }rate \\ AV=367500*0.3 \\ AV=110250 \end{gathered}[/tex]Now, we can calculate the tax as the assessed value times the tax rate.
The tax rate can be expressed as percentage using the meaning for a "mill":
[tex]1\text{ mill}=\frac{1\text{ \$ in tax}}{1000\text{ \$ in assessed value}}[/tex]Then, 83.21 mill will represent a tax of $83.21 per thousand dollars of assessed value.
We then can calculate the tax as:
[tex]\begin{gathered} Tax=tr*AV \\ Tax=\frac{83.21}{1000}*110250 \\ Tax=0.08321*110250 \\ Tax\approx9173.90 \end{gathered}[/tex]Answer: the real estate tax for a year will be $9,173.90.