Budget planners for a certain community have determined that $3,415,200 will be required to provide all government services next year. The total assessed property value in the community is $24,700,000. 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 tax rate per $100, divide the total required budget by the total assessed property value and then multiply by 100. This gives ($3,415,200 / $24,700,000) * 100 = 13.83.

Budget Planners for a Certain Community Have Determined That $3,415,200