Chapter 18, Problem 14AT

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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

Explanation

**Given Information:**

The total assessed property value at Stoney creek is

**Formula used:**

**Calculation:**

Consider The total assessed property value at Stoney creek is

Then the tax rate of the property per dollar is;

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

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