Given the following information, compute the property tax rate for the community in mills. Total budget expenditures: $250 million, Total non-property tax income: $150 million, Total assessed value of all properties: $5 billion, Total exemptions: $900 million.

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The property tax rate is calculated as follows:Property tax rate = (Total budget expenditures - Total non-property tax income) / (Total assessed value of all properties - Total exemptions)= (250,000,000 - 150,000,000) / (5,000,000,000 - 900,000,000)= 100,000,000 / 4,100,000,000= 0.0243= 24.3 mills

Given the Following Information, Compute the Property Tax Rate for the Community