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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.
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 $ Currently, the assessment rate is and the tax rate is mills. The county commission increases the assessment rate to and the tax rate to mills.
a How much property tax in $ was collected under the old rates?
$
b How much more tax in $ revenue will be collected under the new rates?
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