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The City of Weston is preparing its budget for calendar year 2012. After estimating revenues from all other sources, the City calculates that it must raise $7,000,000 from property taxes. You are given the following information regarding the tax rate: Property taxes to be collected: $7,000,000 Allowance for uncollectible property taxes: 5% of the levy Total assessed value of property at the beginning of 2012 $65,000,000 Expected reduction in assessed value from appeals $200,000 Assessed value of City property, not subject to tax $1,400,000 Senior citizen exemptions $ 1,000,000 Required: 1. Compute the millage rate (in decimal form) 106.57