A town has an assessed residential property value of $264,000,000.00. The town council must meet the following expenditures: Education $11,230,000.00 General Purposes $2,000,000.00 Recreation $246,000.00 Public Works $658,000.00 Police and Fire Protection $841,000.00 (a) Sum the expenditures. (b) Suppose that 81% of the expenditures are charged against residential real estate. Calculate the total property taxes that must be raised. (c) What is the mill rate? (Correct to 2 decimal places.) (d) What is the property tax on a property assessed at $406,000.00? (Use the rounded value of the mill rate in this calculation.)
anyone get this????????????
Sep 14th 2008, 08:33 PM
First, you must stress down. Based on your PMs, you seem to be a bit concerned about your success. That is fine, but not if it puts you in paralysis. One sure sign of paralysis is forgetting arithmetic.
(a) Can you REALLY not sum the expenses?
(b) Can you REALLY not calculate 81% of the expenses you just summed?
(c) Do you know what a "Mill Rate" is? Hint: Mills are smaller than percents.
(d) Once you have the Mill Rate, this is a multiplication problem.
Really, these should be easy. If you truly are struggling with these, you are not going to have a fun time in the future. Step up your game by puttin gout your stress.