The School Board in a Municipality Will Require an Extra

question 337

Essay

The school board in a municipality will require an extra $2,430,000 for its operating budget next year. The current mill rate for the school tax component of property taxes is 7.1253. a) If the total of the assessed values of properties in the municipality remains at the current figure of $6.78 billion, at what value must next year's school mill rate be set? b) If the total of all assessed values rises by 5% over this year's aggregate assessment, at what value must next year's school mill rate be set?

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Definitions:

Thoracic Vertebrae

The segment of the vertebral column located in the torso, between the cervical vertebrae and lumbar vertebrae.

Facets

Smooth, flat surfaces that form joints between the vertebrae in the spine, allowing for flexibility and movement.

Transverse Foramina

Small openings in the transverse processes of the cervical vertebrae allowing passage of the vertebral artery.

Transverse Processes

Lateral projections from the vertebrae to which muscles and ligaments attach, and serve as points of articulation for ribs in thoracic vertebrae.