13: Real Estate Math

Question 1

How many cubic inches in a “board foot”

Answer 1

144 cubic inches in a board foot

Question 2

How many sq feet in an acre?

Answer 2

43,560 square feet in an acre

Question 3

How many yards/feet in a mile?

Answer 3

1760 yards, 5280 feet

Question 4

How many feet in a yard?

Answer 4

3 feet in a yard

Question 5

What is a mill levy (numerically speaking)

Answer 5

A “mill levy” is 1/1000th of the assessed value.

So in order to determine the taxes, you divide the assessed value by 1000 and then take that number and multiply it times the mill levy. See page 13-1 where it describes this: “A mill levy… would be ‘the tax rate …per thousand dollars of assessed value.’”