Problem 4: Computations related to property taxes. Use the information below to answer questions 6-9: The Village of Greenville is in the process of developing its revenues budget for the year ended December 31, 2021. The following information has been determined by the Villages finance director: Revenues budgeted from property taxes $ 23,918,400 Estimated percentage of uncollectible property taxes 1% Assessed value of all property in the Village 648,000,000 Assessed value of property owned by nonprofit entities located in the Village 39,000,000 Exemptions for homestead, elderly, military veterans, and disabled 5,000,000 Required: 6. What is the amount of the property tax levy needed to collect the budgeted amount of property tax revenue? Show your computations. 7. What is the net assessed value of property? Show your computations. 8. What is the property tax rate for 2020? Show your computations. 9. Michael and Amanda Lewis own a home in the Village of Greenville with an assessed value in 2021 of $255,000. The Lewis family is allowed a $6,000 homestead exemption as well as a $3,000 old-age exemption. Property taxes are due in two equal installments, one in May and the other in September. How much property taxes will the Lewis family pay in May, 2021?