Question
- The City of Cherokee adopted an appropriations ordinance of $20,500,000 for the General Fund for the current fiscal year. - Estimated revenues other than
- The City of Cherokee adopted an appropriations ordinance of $20,500,000 for the General Fund for the current fiscal year.
- Estimated revenues other than property taxes amounted to $10,000,000.
- The total market value of taxable property in Laredo is $970,000,000.
- The assessment ratio was 60% for the budget year.
- Homestead and veteran exemptions were $15,000,000 based on assessed value.
- The estimated uncollectible tax percentage is 3%.
REQUIRED: Provide the assessed rate per $100 in valuation in dollars for Cherokee City for the current fiscal year
Round to the nearest 10th of a cent.
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Auditing And Assurance Services
Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau
9th Edition
1266796851, 9781266796852
