Question
Suppose that properties in Paragon are not reassessed for tax year 2010, but new construction increases the total appraised value of the town's taxable property
Suppose that properties in Paragon are not reassessed for tax year 2010, but new construction increases the total appraised value of the town's taxable property by 2 percent. Furthermore, assume that non-property tax revenue is estimated to be $10 million for the FY ending 2010 (i.e., $1,000,000 lower than FY09) and that budgeted expenditures are estimated to $16,000,000.00.
The property tax bill that the Johnson family would face in 2010 is $____________.
Note: Please provide the numerical answer without the dollar sign and the comma sign (i.e. 1,000). Also, round your answer to 2 decimal places.
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