The City of Harbor is preparing its budget for calendar year 2021. After estimating revenues from all other sources, the City calculates that it must raise $5,000,000 from property taxes to support operations for current year. You are given the following information regarding the tax rate: Property taxes to be collected Allowance for uncollectible property taxes = Total assessed value of property $5,000,000 5% of the levy $89,000,000 Assessed value of City property, not subject to tax Adjustments to assessed values for senior citizen exemptions The tax rate per $100 of net assessed valuation is: $6.18 $7.11 $6.34 $6.15 $1,400,000 $2,500,000