10. Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Community Total Assessed Property Valuation Total Taxes Required Property Tax Rate Percent? Per $100 (in $)? Per $1,000 (in $)? Mills? Morningside $653,000,000 $32,100,000 %

10. Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Community Total Assessed Property Valuation Total Taxes Required Property Tax Rate Percent? Per $100 (in $)? Per $1,000 (in $)? Mills? Morningside $653,000,000 $32,100,000 %

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 16EA: Project B cost $5,000 and will generate after-tax net cash inflows of $500 in year one, $1,200 in...

See similar textbooks

Community	Total Assessed Property Valuation	Total Taxes Required	Property Tax Rate
Percent?	Per $100 (in $)?	Per $1,000 (in $)?	Mills?
Morningside	$653,000,000	$32,100,000	%	$	$

Similar questions

What amount is payable to a state tax board if the original sales price is $3,000, and the tax rate is 3.5%?
Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Community Total AssessedProperty Valuation Total TaxesRequired perecent per $100 per $1000 mills Ellingham $56,000,000 $2,500,000
Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Community Total AssessedProperty Valuation Total TaxesRequired Property Tax Rate Percent Per $100(in $) Per $1,000(in $) Mills Morningside $655,000,000 $32,400,000 % $ $
Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Community Total AssessedProperty Valuation Total TaxesRequired Property Tax Rate Percent Per $100(in $) Per $1,000(in $) Mills Ellingham $56,000,000 $2,500,000 % $ $
Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Community Ellingham Total Assessed Property Valuation $56,000,000 Total Taxes Required $2,600,000 Percent X % Property Tax Rate Per $100 (in $) $4.64 X Per $1,000 (in $) $ 46.43 Mills 46.43
Jan County needs $910,000 from its property tax to meet the budget. The total value of assessed property in Jan is $180,000,000. 1. What is Jan’s tax rate? (Round your answer to the nearest ten-thousandth.) Jan’s tax rate 2. Express the rate in mills. (Round your answer to the nearest tenth.) Rate in mills
I have the question and answer below. I just need to know how to get the answer if you could explain it. Determine the tax rate. Round to the nearest cent or nearest hundredth. Assessed property value: $40,356,000Expenses to be funded by property tax: $2,633,000Tax per amount of assessed value: mill Answer: (65.24)
Given the following information, compute the property tax rate for the community in mills. Total budget expenditures: $600,000, Total non-property tax income: $200,000, Total assessed value of all properties: $25 million, Total exemptions: $3 million. Report the number of mills to the nearest whole number
Budget planners for a certain community have determined that $9,235,400 will be required to provide all government services next year. The total assessed property value in the community is $122,500,000. What tax rate is required to meet the budgetary demands? (Express your answer as a tax rate per $100 and round to the nearest hundredth)
As the tax assessor for Indian Creek County you have been informed that due to budgetary demands, a tax increase will be necessary next year. The total market value of the property in the county is $700000000. Currently the assessment rate is 35 % and the tax rate is 40 mills. The commission increases the assessment rate to 45 % and the tax rate to 45 mills. How much property tax in dollars was collected? How much more tax will be collected under the new rate?
NEED BOTH QUESTIONS. .... As the tax assessor for Indian Creek County, you have been informed that due to budgetary demands, a tax increase will be necessary next year. The total market value of the property in the county is $900,000,000. Currently, the assessment rate is 35% and the tax rate is 30 mills. The county commission increases the assessment rate to 45% and the tax rate to 35 mills. (a)How much property tax (in $) was collected under the old rates? (b)How much more tax (in $) revenue will be collected under the new rates?
A residence has a market value of $250,000. The municipality's tax policy is set at 80%. Real estate owners must pay two separate taxes: the municipality tax and an education tax. The tax rates for each are set at 1.25% and 0.75% respectively. 1. Calculate the total property tax bill