The Tax Rate Per Dollar in a Town Can Be

question 63

Multiple Choice

The tax rate per dollar in a town can be calculated by dividing the total assessed value into:

• A)Mills
• B)Budget needed
• C)Market value
• D)Appraised value
• E)None of these

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Definitions:

Common Resource

A resource that is available to all, but which can become depleted if overused, such as air, water, or public land.

Marginal Benefit

The added value or utility one experiences by consuming one more unit of a good or service.

Marginal Social Benefit

The extra advantage to the community from creating or using an additional unit of a product or service.

Marginal Social Cost

The total cost society bears for the production of an additional unit of a good or service, including private and external costs.