Business, 01.10.2019 06:00 ayoismeisalex

Determining of property tax rate

the county legislature approved the budget for 2019. revenues from property taxes are budgeted at $800,000. according to the county assessor, the assessed valuation of all of the property in the county is $50 million. of this amount, property worth $10 million belongs to the federal government or to religious organizations and, therefore, is not subject to property taxes. in addition, certificates for the following exemptions have been filed:

homestead $2,500,000
veterans 1,000,000
old age, blindness, etc. 500,000

in the past, uncollectible property taxes averaged about 3 percent of the levy. this rate is not expected to change in the foreseeable future. using all of this information, determine

a. the property tax rate per $1,000 of assessed valuations that must be used to collect the desired revenues from property taxes.

round answer to two decimal places.

answer

b. the levy on a piece of property that was assessed for $100,000 (after exemptions).

use rounded answer from above. round final answer to the nearest whole number.

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Determining of property tax rate

the county legislature approved the budget for 2019. re...

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