E5-4. (Property Tax Allocation)

a. The 20X7, 20X6, and 20X5 tax rates for the City of Yonker are:

Rates per $100 of Assessed Value

20X7 20X6 20X5

General Fund $1.00 $1.10 $1.20

Library Fund .09 .09 .09

Municipal Bonds - Redemptions .20 .18 .16

The total assessed value for 20X7 was $88,400,000.

Compute the amount of taxes levied for each fund for 20X7.

b. Collections were made in 20X7 as follows:

20X7 levy....................$1,000,000

20X6 levy..................... 100,000

20X5 levy....................... 50,000

Total.............................. $1,150,000

Compute the amount of collections applicable to each fund for each year.