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Mr. Liu and Ms. Byne own adjacent businesses. They have just received their property tax notices ...

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Mr. Liu and Ms. Byne own adjacent businesses. They have just received their property tax notices ...

Mr. Liu and Ms. Byne own adjacent businesses. They have just received their property tax notices providing the following assessment and tax information:

Owner	Assessment on parking lot	Assessment on buildings	Total property tax
Mr. Liu	$400,000	$300,000	$3870
Ms. Byne	$350,000	$380,000	$3774

The regional government applies one tax rate to residences, and a lower tax rate to land with farm buildings. What are these property tax rates (expressed in percent to the nearest 0.01%)?

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Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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