As the tax assessor for Indian Creek County, you have been informed that due to budgetary demands, a tax increase will be necessary next year. The total market value of the property in the county is $400,000,000. Currently, the assessment rate is 35% and the tax rate is 30 mills. The county commission increases the assessment rate to 45% and the tax rate to 35 mills. (a) How much property tax (in sis) was collected under the old rates? $:l (b) How much more tax (in $) revenue will be collected under the new rates? $:l You own an a townhome with an assessed value of $184,300. The tax rate is $2.20 per $100 of assessed value. (Round your answers to the nearest cent.) (a) What is the amount of property tax (in $)? $:l (b) If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? $l:l (c) If the state charges a mandatory 3%% penalty for late payments, how much (in $) would the tax bill amount to if you paid late? $l:l