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.)

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