The Town of Bath Passed an Appropriations Ordinance for the General

The Town of Bath passed an appropriations ordinance for the General Fund for a certain fiscal year in the amount of $40,000,000. Revenues were anticipated from sources other than the property tax in the amount of $19,800,000. The total market value of property in the Town amounts to $2.70 billion, but $540 million is exempt due to being owed by governmental units, churches, etc. The assessment ratio (assessment percentage of market value) for all cities in the State is 33 1/3 percent. Homestead, veterans and other exemptions amount to $35 million, based on assessed value. It is anticipated that one percent of the assessed taxes will not be collected.
Required:
a. Compute the amount of the total property tax levy. Round to the nearest $100.
b. Compute to the nearest cent the property tax rate per $100/net assessed valuation (NAV).
c. You own a home with a market value of $250,000. Compute the property tax you will be required to pay, assuming you are eligible for a $5,300 homestead exemption.