Budget planners for a certain community have determined that $9,235,400 will be required to provide all government services next year. The total assessed property value in the community is $122,500,000. What tax rate is required to meet the budgetary demands? (Express your answer as a tax rate per $100 and round to the nearest hundredth)

Question

Quizplus · Accepted Answer

To find the required tax rate per $100, divide the total budgetary demands by the total assessed property value and then multiply by 100. This gives: ($9,235,400 / $122,500,000) * 100 = 7.54.

Budget Planners for a Certain Community Have Determined That $9,235,400