Business, 16.03.2020 16:57 puppylover72
The county legislature approved the budget for 2019. Revenues from property taxes are budgeted at $800,000. According to the county assessor, the assessed valuation of all of the property in the county is $50 million. Of this amount, property worth $10 million belongs to the federal government or to religious organizations and, therefore, is not subject to property taxes. In addition, certificates for the following exemptions have been filed:
Homestead $2,500,000
Veterans 1,000,000
Old age, blindness, etc. 500,000
In the past, uncollectible property taxes averaged about 3 percent of the levy. This rate is not expected to change in the foreseeable future. Using all of this information, determine the property tax rate per $1,000 of assessed valuations that must be used to collect the desired revenues from property taxes.
Answers: 1
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Rolston music company is considering the sale of a new sound board used in recording studios. the new board would sell for $27,200, and the company expects to sell 1,570 per year. the company currently sells 2,070 units of its existing model per year. if the new model is introduced, sales of the existing model will fall to 1,890 units per year. the old board retails for $23,100. variable costs are 57 percent of sales, depreciation on the equipment to produce the new board will be $1,520,000 per year, and fixed costs are $1,420,000 per year. if the tax rate is 35 percent, what is the annual ocf for the project?
Answers: 1
The county legislature approved the budget for 2019. Revenues from property taxes are budgeted at $8...
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