MATH To provide additional employment and add to its tax base from businesses, Yorketowne's city
council opened a business park on the edge of the
city. After five years, they had attracted two new
manufacturers and four supporting service busi-
nesses to the park. The total value of the property
of all six businesses was $15,825,500. The compa-
nies paid $0.78 per $1,000 of property value each
year as property tax. In addition, the businesses
employed 328 people at an average salary of
$36,000. Each person paid a 1 percent city income
tax each year,
a. What is the total amount of taxes the city col-
lected as a result of opening the business park?
b. In addition to the tax dollars, what other ben-
efits might the city receive from opening the
business park?