Question
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
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.
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