The Town of Simcoe Is Considering Raising the $2 Billion

question 203

Short Answer

The town of Simcoe is considering raising the $2 billion required for a sports complex by approving a new capital levy component of the property tax. The levy must be collected over the next five years. If the total assessed value of property in the town is $875 billion, what additional tax will a home owner of a property assessed at $300,000 pay?

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Definitions:

Representative Sample

A smaller portion of a population that accurately represents the characteristics of the whole population.

Residents

Individuals who inhabit a particular place or locality, usually implying a degree of permanence.

Population

The entire group of individuals or instances about whom data is collected, typically in statistical analysis and research.

Biased Sample

A sample that does not accurately represent the population from which it was drawn, often due to systematic exclusion or overrepresentation of particular groups.