   Chapter 18, Problem 14AT ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Calculate the property tax rate required to meet the budgetary demands of the following communities. Property Tax Rate Total AssessedCommunity Property Valuation Total Taxes Required Per PerPercent $100$1,000 Mills 14. Stoney Creek $860,000,000$32,400,000

To determine

To calculate: The property tax rate in percent, per $100, per$1000 and in mills if total assessed property value at Stoney creek is $860,000,000 and the total tax required is$32,400,000.

Explanation

Given Information:

The total assessed property value at Stoney creek is $860,000,000 and the total tax required is$32,400,000.

Formula used:

Tax rate per dollar = Total tax requiredTotal assessed property valueTax rate per $100 = Tax rate per dollar × 100Tax rate per$1000  = Tax rate per dollar × 1000Tax rate per mill  = Tax rate per dollar0.001

Calculation:

Consider The total assessed property value at Stoney creek is $860,000,000 and the total tax required is$32,400,000.

Then the tax rate of the property per dollar is;

Tax rate per dollar = Total tax requiredTotal assessed property value = 32,400,000860,000,000 = 0.0377

To express tax as a percent, move the decimal point two places to the right and add a percent sign. Therefore, Tax rate is 3

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### In Exercises 516, evaluate the given quantity. log5125

Finite Mathematics and Applied Calculus (MindTap Course List)

#### In Exercises 6372, evaluate the expression. 70. | 6| 3

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

#### In Problems 36-42, solve each equation. 37.

Mathematical Applications for the Management, Life, and Social Sciences

#### The polar form for the graph at the right is:

Study Guide for Stewart's Multivariable Calculus, 8th

#### Using a binomial series, the Maclaurin series for is:

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

#### Given:12. Prove: ABAC=BECD

Elementary Geometry for College Students 