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Home Q & A Board Science-Related Homework Help Mathematics
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majarm majarm
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6 years ago
A small town has a total residential assessment of $1.1 billion. The town must meet expenditures of $300 million.
a)   If 80% of the expenditures are charged against residential real estate, calculate then total property taxes that must be raised.
b)    Calculate the mill rate.
c)    Calculate the property tax on a property assessed at $500 000.00
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
6 years ago
a)    Total Residential property tax = 0.8(300 000 000) = $240 000 000
b)    Mill rate =  (1000) = 218.18
c)    Property tax = 500000  = $109 090
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