Determining of property tax rate The county legislature approved the budget for the current year. Revenues from property taxes are budgeted at $896,000. According to the county assessor, the assessed valuation of all of the property in the county is $56,000,000. Of this amount, property worth $11,200,000 belongs to the federal government or to religious organizations and, therefore, is not subject to property taxes. In addition, certificates for the following exemptions have been filed: Homestead Veterans Old age, blindness, etc. $2,800,000 1,120,000 560,000 In the past, uncollectible property taxes averaged about 3 percent of the levy. This rate is not expected to change in the foreseeable future Using all of this information, determine a. the property tax rate per $1,000 of assessed valuations that must be used to collect the desired revenues from property taxes Note: Calculate tax rate per $1,000 of assessed valuation. Note: Round your answer to two decimal places. $ 0 per $1,000 of assessed valuation b. the levy on a piece of property that was assessed for $100,000 (after exemptions). Note: Use your rounded answer from above to compute this answer. $ 0