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2. You have been provided with the information listed below for the City of XYZ for FY 2022. market value of taxable property $280 million

2. You have been provided with the information listed below for the City of XYZ for FY 2022.

market value of taxable property $280 million assessment ratio 75% value of homestead exemptions $24 million collection rate 96% A. If the city wants to collect $9.0 million in property tax revenues in FY 2022, what property tax rate should the city use? Express the rate in dollars per $100 assessed value. (Be sure to show your calculations.) B. Based on the tax rate that you calculated in Part A, what would the citys tax levy be in FY 2022? (show calculations) C. Assume that Wanda owns a house in City XYZ that has a market value equal to $140,000. Based on the rate you calculated in part A, how much would Wanda owe in property taxes in 2022 if he is eligible for a $15,000 homestead exemption? (show your calculations)

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