Property Taxation The following data are for the town of Paragon (Paragon is required to produce a balanced budget) in the fiscal year ending June 30, 2021: Budgeted town expenditures: $15,000,000.00 Estimated non-property tax revenues: $11,000,000.00 Appraised value of property: $200,000,000.00 Total exemptions for the elderly: $8,000,000.00 Assessment ratio: 60% The statutory property tax rate Paragon needs to adopt to balance their 2021 budget is ___________%. P.S. Please round your answer