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The market value(P) of a property is $833,333.33 in a jurisdiction in which the assessment ratio is 60%. The property owner has just been granted
The market value(P) of a property is $833,333.33 in a jurisdiction in which the assessment ratio is 60%. The property owner has just been granted a homestead exemption of $50,000. The property is in a jurisdiction in which the current budget is $9 billion of which 80% derives from property taxes. The gross assessed value of all taxable properties is $684,000,000,000. Calculate the owners property tax for the year. (8 points)
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