A Town Has an Assessed Residential Property Value of $350

question 92

Essay

A town has an assessed residential property value of $350 000 000. The town council must meet the following expenditures:
Education: $11 050 000
General Purposes: $2 100 000
Recreation: $270 000
Public works: $670 000
Police and fire protection: $857 500
a) Suppose 70% of the expenditures are charged against residential real estate. Calculate the total property taxes that must be raised.
b) What is the mill rate?
c) What is the property tax on a property assessed at $235 000?

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Definitions:

Strengths, Biases

The unique positive attributes and the inherent or learned prejudices present within individuals or systems.

Weaknesses

The state or condition of lacking strength or power, often used to describe areas for improvement in personal or organizational contexts.

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An enthusiastic and hardworking individual who is often eager to take on tasks or responsibilities, sometimes to the point of overzealousness.

Problem Person

A term referring to an individual in a group or team who is seen as causing difficulties or hindering progress due to their behavior or attitudes.