A town has a total residential assessment of 900 million dollars. The town must meet expenditures of $45 million.
a) If 90% of the expenditures are charged against residential real estate, calculate then total property taxes that must be raised.
b) Calculate the mill rate.
c) Calculate the property tax on a property assessed at $235 000.00

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The Answer of A town has a total residential assessment of 900 million dollars. The town must meet expenditures of $45 million.
a) If 90% of the expenditures are charged against residential real estate, calculate then total property taxes that must be raised.
b) Calculate the mill rate.
c) Calculate the property tax on a property assessed at $235 000.00

A Town Has a Total Residential Assessment of 900 Million