Calculate the Tax Rate in Decimal Form (Six Decimal Places)

question 96

Short Answer

Calculate the tax rate in decimal form (six decimal places):
$$\begin{array} { | l | l | } \hline\text { Total Assessed Value } & \text { Budget Required } \\\hline \$ 51,000,000 & \$ 975,000 \\\hline\end{array}$$

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Definitions:

Conform

To align one's behavior or beliefs with the norms, rules, or standards of a group or society, often due to social pressure or the desire for acceptance.

Rational Choice Theory

An economic principle that assumes individuals always make prudent and logical decisions that provide them with the highest personal utility.

Exchange

In sociology, the act of giving one thing and receiving another between two parties, often analyzed within social, economic, or cultural contexts.

Altruism

The principle or practice of showing concern for the welfare of others, often at a cost to oneself, motivated by selfless concerns.