The Mundane County Council has the following information concerning the upcoming fiscal year's budget:

To balance the budget, the Council will set the property tax rate at:

Question

The Mundane County Council has the following information concerning the upcoming fiscal year's budget:

To balance the budget, the Council will set the property tax rate at:

Quizplus · Accepted Answer

To balance the budget, the Council needs to generate a total revenue of $16,640,000. This can be achieved by setting the property tax rate at $3.20/$100 AV, which would generate a total revenue of $16,832,000 (0.32*100*525500). Option A and B would generate more revenue than required, and Option D would generate less revenue than required.

The Mundane County Council Has the Following Information Concerning the Upcoming