# Math

Wellesville must meet a budget of \$27,000. All of the city's income is derived from property tax. What rate of tax must they use if the assessed value of the taxable property is \$1,173,913? (Answer to tenths)
how do you work this out?

1. 👍 0
2. 👎 0
3. 👁 275
Suppose their budget was 50% of the available property value. They'd have to tax it at 50%

Instead, their budget is 27000 out of an available 1173913. So, what % is that?

27000/1173913 = 0.023 or, 2.3%

1. 👍 0
2. 👎 0
posted by Steve

## Similar Questions

1. ### finance

Knight has a property tax base with an appraised value consisting of \$142,000,000 of taxable real property and \$78,000,000 of taxable personal property. The assessment ratio is 50%. Exemptions for the elderly reduce assessed value

asked by angela on September 9, 2012
2. ### Math

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.

asked by debbie on February 25, 2016
3. ### Math

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.

asked by debbie on February 25, 2016
4. ### Math

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.

asked by debbie on February 25, 2016
5. ### Finance

Please help me,math word problems make my brain go crazy. Some friends are urging you to chip in with them to buy a vacant parcel og land on the outskirts of your city. A one-fourth interest would cost you \$10,000.Total annual

asked by Sara on February 27, 2013
6. ### Civics

Which would you most likely find a smaller amount of in a government budget than in a personal or household budget? A. The percent of total income that goes towards national defense and health care B. The percentage of people

asked by Carla on May 24, 2017
7. ### Economics

The assessed value of Patty's residential property was \$200,000 in 2004. In 2006, the assessed value increased to \$225,000. The property tax rate in both years was 1.2 percent. Patty earned \$60,000 each year. Determine Patty’s

asked by Kesha on March 16, 2015
8. ### corporate finance

Genaro needs to capture a return of 40 percent for his one-year investment in a property. He believes that he can sell the property at the end of the year for \$150,000 and that the property will provide him with rental income of

asked by felicia on May 7, 2012
9. ### accounting

The Board of Aldermen of Finchville approved the appropriations budget for its General Fund for the year ending December 31 as shown below. General government.............................................. \$ 600,000 Public

asked by tamara on June 10, 2008
10. ### Civics

which would you most likely find a smaller a smaller amount of in a governments budget than in a personal household budget? a. the percent of total income that goes towards national defense and health care b. the percentage of

asked by HELP(civics)!!!!!!!!! on June 8, 2016

More Similar Questions