To meet budget, $915,000 from property tax is needed. The total value of assessed property is $14,000,000. What is the tax rate per dollar (round to nearest thousandths)?
A)0.071
B)0.07
C)0.0655
D)0.066
E)None of these

Question

Quizplus · Accepted Answer

The tax rate is calculated by dividing the needed tax revenue by the total assessed property value: $915,000 / $14,000,000 = 0.065357, which rounds to 0.066.

To Meet Budget, $915,000 from Property Tax Is Needed