The Total Assessed Property Value in River City Is $106,000,000

question 45

Multiple Choice

The total assessed property value in River City is $106,000,000. Budget planners have determined that $7,663,800 will be required to provide all government services next year. What tax rate is required to meet the budgetary demands? (Express your answer as a percent rounded to the nearest hundredth)

• A) 7.20%
• B) 7.23%
• C) 72.30%
• D) 1.38%

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Definitions:

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in air and is absorbed by plants in photosynthesis.

Hydrogen Ions

Positively charged ions (H+) formed when hydrogen atoms lose their electrons, significantly influencing the pH of solutions.

Acidosis

A condition characterized by an excessive accumulation of acid or a significant loss of bicarbonate in the body, which can decrease blood pH.

Hyperventilation

Rapid or deep breathing that exceeds the body's need for oxygen, often leading to a decrease in carbon dioxide levels in the blood.