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Sunset City levies $500,000 of property taxes for its current fiscal year. Three percent of the tax levy is expected to be uncollectible. The city

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Sunset City levies $500,000 of property taxes for its current fiscal year. Three percent of the tax levy is expected to be uncollectible. The city collects $400,000 or its extes during the year and her 560,000 during the first two months of the following year. In addition, the city collected $12,000 of prior year taxes during the first two months of the current fiscal year and another 55,000 during the remainder of the current fiscal year. What amount of property tax revers should the city report in the governmental fund financial statements for the current fiscal year

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