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The following information is for Smallville Taxable real property =$66M, Taxable personal property=$100M, Assessment ratio=0.5 Exemptions = $3M, Budgeted Expenditure=$6M Non-property tax revenue=$2M What is

The following information is for Smallville
- Taxable real property =$66M,
- Taxable personal property=$100M,
- Assessment ratio=0.5
- Exemptions = $3M,
- Budgeted Expenditure=$6M
- Non-property tax revenue=$2M

What is the statutory tax rate for residential property?

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