Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question: Provide the Fair Cash Value (in Thousands) for the County in total. Central County includes five townships (Nixon, Reagan, Davis, Greasy Creek, Navaho) and

question: Provide the Fair Cash Value (in Thousands) for the County in total.

Central County includes five townships (Nixon, Reagan, Davis, Greasy Creek, Navaho) and one city (Booneville). It is served by two independent school districts: Seagram United (Davis and Greasy Creek Townships) and Yeltsin Consolidated Schools (Nixon, Reagan, and Navaho Townships). Each government in the county levies a property tax to finance its activities, although Booneville has also enacted a local earned income tax (it is expected to yield $750,000 in the next year). Property tax rates are applied to assessed value, defined to equal 50 percent fair cash value. Local unit tax rates fully overlap. The county assessor reports the following fair cash values for units within the county:

Nixon Township $69,535,000

Reagan Township $35,000,000

Davis Township $23,720,000

Greasy Creek Township $15,922,000

Navaho Township $27,291,000

Booneville (Davis Township) $88,450,000

Booneville (Greasy Creek Township) $75,392,000

The township value data are for the area outside of any city or town that resides in the township. Values within a city must be added to obtain the township total. Planned Expenditure by Taxing Units The following presents the amounts that each taxing unit has budgeted to spend in the next year:

Central County $3,428,000

Booneville City $4,539,000

Nixon Township $ 99,000

Reagan Township $ 150,000

Davis Township $ 250,000

Greasy Creek Township $ 175,000

Navaho Township $ 83,000

Seagram United Schools $6,350,000

Yeltsin Consolidated Schools $3,800,000

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_2

Step: 3

blur-text-image_3

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

Auditing Outsourced Functions Risk Management In An Outsourced World

Authors: Mark Salamasick

1st Edition

0894137255, 9780894137259

More Books

Students also viewed these Accounting questions

Question

Identify and sketch three distribution shapes that are symmetric.

Answered: 1 week ago