Business, 11.04.2020 01:53 joytheqt305
The Mundane County Council has the following information concerning the upcoming fiscal year’s budget:
Planned Expenditure: $22,550,000
Sales Tax Revenue: $4,000,000
Total Market Value of Property: $781,250,000
User Charge Revenue: $3,250,000
Income Tax Revenue: $1,600,000
Miscellaneous Revenue: $1,200,000
Assessment Ratio: 50%
A residence in Mundane County has an assessed value of $15,000. Its owner qualifies for an old-age exemption of $1,000 and a homestead exemption of $2,000. The property tax rate is $5.00 per $100 of assessed value. What will the property tax bill on this property equal? Express your answer in dollars and round off to the nearest tenth if necessary (e. g., $335.5): $
Answers: 2
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The Mundane County Council has the following information concerning the upcoming fiscal year’s budge...
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