Question
Carroll City levies $219,000 of property taxes for its current fiscal year. Two percent of the tax levy is expected to be uncollectible. The city
Carroll City levies $219,000 of property taxes for its current fiscal year. Two percent of the tax levy is expected to be uncollectible. The city collects $189,000 of its taxes during the year and another $34,500 during the first two months of the following year. In addition, the city collected $6,800 of prior year taxes during the first two months of the current fiscal year and another $3,900 during the remainder of the current fiscal year. What amount of property tax revenues should the city report in the general fund financial statements for the current fiscal year
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