Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE ANSWER ALL Blunt County needs $860,000 from property tax to meet its budget. The total value of assessed property in Blunt is $118,000,000. What

PLEASE ANSWER ALL

Blunt County needs $860,000 from property tax to meet its budget. The total value of assessed property in Blunt is $118,000,000.

What is the tax rate of Blunt? (Round your intermediate calculations to the nearest ten thousandth and final answer to 1 decimal place.)

Tax rate mills

Calculate the assessed value of the piece of property:

Assessment rate Market value Assessed value
80% $195,000 $

Calculate the following:

Retail selling price Sales tax (6%) Excise tax (10%) Total price including taxes
$3,500 (Click to select)+- $ (Click to select)-+ $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Monetary Policy Strategy

Authors: Frederic S. Mishkin

1st Edition

0262513374, 978-0262513371

More Books

Students also viewed these Finance questions