A town has an assessed residential property value of $350 000 000. The town council must meet the following expenditures: a)Suppose 70% of the expenditures are charged against residential real estate. Calculate the total property taxes that must be raised.
b)What is the mill rate?
c)What is the property tax on a property assessed at $235 000?

Question

A town has an assessed residential property value of $350 000 000. The town council must meet the following expenditures:  a)Suppose 70% of the expenditures are charged against residential real estate. Calculate the total property taxes that must be raised.
b)What is the mill rate?
c)What is the property tax on a property assessed at $235 000?

Quizplus · Accepted Answer

The Answer of A town has an assessed residential property value of $350 000 000. The town council must meet the following expenditures:  a)Suppose 70% of the expenditures are charged against residential real estate. Calculate the total property taxes that must be raised.
b)What is the mill rate?
c)What is the property tax on a property assessed at $235 000?

A Town Has an Assessed Residential Property Value of $350