Given the Following Information, Calculate the Effective Tax Rate Expressed

question 5

Multiple Choice

Given the following information, calculate the effective tax rate expressed in mills. Market value of property: $280,000, Assessed value of property: 50 % of the market value, Exemptions: $2,000, Annual tax liability: $4,685.10.

• A) 1.69 mills
• B) 3.35 mills
• C) 16.73 mills
• D) 33.95 mills

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Definitions:

Organisational Design

Organisational design involves the process of aligning an organization's structure and processes with its objectives to enhance efficiency, adaptability, and overall performance.

Premise

An initial statement or proposition from which conclusions are drawn or arguments are based.

Strategy

A plan of action designed to achieve a long-term or overall aim, often involving the deployment of resources in a competitive context.

Structure

The arrangement or organization of interrelated elements in a material object or system, or the organization of parts as dominated by the general character of the whole.