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City levies $800,000 of property taxes for its current fiscal year. Two percent of the tax levy is expected to be uncollectible. The city collects
City levies $800,000 of property taxes for its current fiscal year. Two percent of the tax levy is expected to be uncollectible. The city collects $710,000 of its taxes during the year and another
50,000 during the first two months of the following year. In addition, the city collected $15,000 of prior year taxes during the first two months of the current fiscal year and another $6,000 during the
remainder of the current fiscal year. What amount of property tax revenues should the city report in the government-wide financial statements for the current fiscal year?
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