Question
Hicksville has a proposed budget of $7,000,000 for the fiscal year. The city has an assessed value of $100,000,000 and will receive state aid of
Hicksville has a proposed budget of $7,000,000 for the fiscal year. The city has an assessed value of $100,000,000 and will receive state aid of $100 per capita based on its 2010 census population of 15,000. Assessed value equals 25% of market value.
What is the nominal tax rate in Hicksville?
| a. | .055 | |
| b. | .070 | |
| c. | .085 | |
| d. | .220 |
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Accounting An Introduction
Authors: Eddie McLaney, Peter Atrill
2nd Edition
0273655507, 978-0273655503
