The municipality of Waterloo needs $915,000 from property tax to meet its budget. The total value of

assessed property in Waterloo is $14,000,000. What is the tax rate per dollar? (Round your answer to the
nearest thousandth.)
A. $.07
B. $.065
C. $.071
My answer is B .065

I don't think any of these answers is correct. Multiplying 0.065 times 14,000,000, I get $910,000.

To determine the tax rate per dollar, you need to divide the amount of money needed from property tax ($915,000) by the total value of assessed property ($14,000,000).

Tax Rate = Amount of money needed from property tax / Total value of assessed property

Tax Rate = $915,000 / $14,000,000

Calculating this:

Tax Rate = 915,000 ÷ 14,000,000

Tax Rate ≈ 0.065357143

Rounding this to the nearest thousandth, the tax rate per dollar is approximately $0.065.

So, your answer of B. $0.065 is correct.