Property tax. The following data are for the town of Sultan in the fiscal year starting January 1, 2024.

Budgeted town expenditures 1,600,000

Estimated revenue from grants, fees, and licenses 800,000

Assessed value of taxable property 82,000,000

Questions:

5a) What is the town's property tax rate per $1000 of assessed value?

5b) The Nguyen family has a house assessed at $300,000 in tax year 2024. What is their expected property tax bill for 2024?

Suppose that in 2025, properties in God Bar are not reassessed, but the new construction adds to the total an additional 20 percent in assessed value. Non-property tax revenue is forecasted at $850,000 and the budgeted town expenditures in 2025 will be $1,800,000.

5c) What is the expected 2025 new property tax rate in Sultan?

5d) What is the 2025 tax bill the Nguyen family expects to receive?