USE THE FOLLOWING DATA TO ANSWER THE QUESTION

question 10

Multiple Choice

USE THE FOLLOWING DATA TO ANSWER THE QUESTION.
Hicksville has a proposed budget of $7,000,000 for the fiscal year. The city has an assessed value of $100,000,000 and will receive state aid of $100 per capita based on its 2000 census population of 15,000. Assessed value equals 25% of market value.

-What is the nominal tax rate in Hicksville?

• A) .055
• B) .070
• C) .085
• D) .220

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Definitions:

Creativity

The ability to produce original and valuable ideas or solutions, utilizing imagination and innovative thinking.

Opportunity Recognition

The process by which entrepreneurs identify and evaluate potential new business opportunities.

Design Pathway

The process or approach taken to solve a design problem, from ideation through to the final solution, often in the context of product development or architecture.

Least Complex

Refers to things that are the simplest or have the minimal level of difficulty.