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 $659,000,000 $32,400,000   % $   $

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Design Of The Tax System
Section: Chapter Questions
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Calculate the property tax rate required to meet the budgetary demands of the community. NoteWhen 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 $659,000,000 $32,400,000   % $   $    
 
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