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
D. $.0655
d?
Probably yes. It's close.
The answer is B. $.065
... answer round to the nearest thousandth it is not B its .064 none of the above
915000/14000000=0.0653571428571429=0.0654
To find the tax rate per dollar, we need to divide the total budget by the assessed property value.
Tax Rate per dollar = Total budget / Assessed property value
In this case, the total budget is $915,000 and the assessed property value is $14,000,000.
Tax Rate per dollar = $915,000 / $14,000,000
To calculate this, we can divide $915,000 by $14,000,000.
Tax Rate per dollar ≈ 0.0655
Rounding this answer to the nearest thousandth, we get 0.065.
So the tax rate per dollar is approximately $0.065 or $0.065 rounded to the nearest thousandth.
Therefore, the correct answer is D. $0.0655.