BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

Solutions

Chapter
Section
BuyFindarrow_forward

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. Note: When calculating budgetary demands, always round up.

Property Tax Rate
Community Total Assessed Property Valuation Total Taxes Required Percent Per $100 Per $1,000 Mills
Bay Harbor $850,000,000 $39,450,000 4.65% $4.65 $46.50 46.5

To determine

To calculate: The property tax rate percent, per $100, per $1000, and in mills if the community Bay Harbor has a total assessed value of property $850,000,000 and total taxes required are $39,450,000.

Explanation

Given Information:

Total assessed value of property is $850,000,000 and the total taxes required are $39,450,000.

Formula used:

Property tax rate per dollar can by computed by dividing the total taxes required by the total assessed property value,

 total tax requiredtoal assessed value of property =  tax rate per dollar

To convert tax rate per dollar to percent, Move the decimal point two places to the right and add a percent sign.

To convert tax rate per dollar to tax rate per $100, multiply the tax rate per dollar by 100.

To convert tax rate per dollar to tax rate per $1,000, multiply the tax rate per dollar by 1000.

To convert tax rate per dollar to mills, divide tax rate per dollar by .001.

Calculation:

Consider the provided data,

Total assessed value of property is $850,000,000 and total taxes required are $39,450,000.

As,  total tax requiredtoal assessed value of property =  tax rate per dollar

Now, divide the total tax required by total assessed property value to calculate the tax rate per dollar,

tax rate per dollar = 39450000850000000=0

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

Chapter 18 Solutions

Show all chapter solutions add
Sect-18.I P-7RESect-18.I P-8RESect-18.I P-9RESect-18.I P-10RESect-18.I P-11RESect-18.I P-12RESect-18.I P-13RESect-18.I P-14RESect-18.I P-15RESect-18.I P-16RESect-18.I P-17RESect-18.I P-18RESect-18.I P-19RESect-18.II P-5TIESect-18.II P-6TIESect-18.II P-7TIESect-18.II P-8TIESect-18.II P-9TIESect-18.II P-1RESect-18.II P-2RESect-18.II P-3RESect-18.II P-4RESect-18.II P-5RESect-18.II P-6RESect-18.II P-7RESect-18.II P-8RESect-18.II P-9RESect-18.II P-10RESect-18.II P-11RESect-18.II P-12RESect-18.II P-13RESect-18.II P-14RESect-18.II P-15RESect-18.II P-16RESect-18.II P-17RESect-18.II P-18RESect-18.II P-19RESect-18.II P-20RESect-18.III P-10TIESect-18.III P-11TIESect-18.III P-12TIESect-18.III P-13TIESect-18.III P-14TIESect-18.III P-1RESect-18.III P-2RESect-18.III P-3RESect-18.III P-4RESect-18.III P-5RESect-18.III P-6RESect-18.III P-7RESect-18.III P-8RESect-18.III P-9RESect-18.III P-10RESect-18.III P-11RESect-18.III P-12RESect-18.III P-13RESect-18.III P-14RESect-18.III P-15RESect-18.III P-16RESect-18.III P-17RESect-18.III P-18RESect-18.III P-19RESect-18.III P-20RESect-18.III P-21RESect-18.III P-22RESect-18.III P-23RESect-18.III P-24RESect-18.III P-25RESect-18.III P-26RESect-18.III P-27RESect-18.III P-28RESect-18.III P-29RESect-18.III P-30RECh-18 P-1CRCh-18 P-2CRCh-18 P-3CRCh-18 P-4CRCh-18 P-5CRCh-18 P-6CRCh-18 P-7CRCh-18 P-8CRCh-18 P-9CRCh-18 P-10CRCh-18 P-11CRCh-18 P-12CRCh-18 P-13CRCh-18 P-14CRCh-18 P-1ATCh-18 P-2ATCh-18 P-3ATCh-18 P-4ATCh-18 P-5ATCh-18 P-6ATCh-18 P-7ATCh-18 P-8ATCh-18 P-9ATCh-18 P-10ATCh-18 P-11ATCh-18 P-12ATCh-18 P-13ATCh-18 P-14ATCh-18 P-15ATCh-18 P-16ATCh-18 P-17ATCh-18 P-18ATCh-18 P-19ATCh-18 P-20ATCh-18 P-21ATCh-18 P-22ATCh-18 P-23ATCh-18 P-24ATCh-18 P-25ATCh-18 P-26ATCh-18 P-27ATCh-18 P-28ATCh-18 P-29ATCh-18 P-30AT

Additional Math Solutions

Find more solutions based on key concepts

Show solutions add

In Exercises 4756, solve the given equation for the indicated variable. 81=3x

Finite Mathematics and Applied Calculus (MindTap Course List)

In Problems 13-26, graph the solution of each system of inequalities. 22.

Mathematical Applications for the Management, Life, and Social Sciences

Sketch the graph of the equation 3x 4y =24.

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

In Exercises 110, evaluate the expression. 20!

Finite Mathematics for the Managerial, Life, and Social Sciences

True or False: xy + 6x2y = 10 x3 is linear.

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