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The statistical section of the city of Tallahassee's CAFR for the fiscal year ended September 30, 2016 contains several schedules regarding the city's outstanding debt.
The statistical section of the city of Tallahassee's CAFR for the fiscal year ended September 30, 2016 contains several schedules regarding the city's outstanding debt. One schedule shows that the out- standing tax-supported debt at September 30, 2016 was $91,825 thousand. Other schedules show the following statistics: Assessed value of all real property in the city ...... Taxable assessed value of property (after exemptions). Estimated actual value of taxable property... $17,451,681 thousand $ 9,594,507 thousand $20,531,389 thousand Required: Calculate the city's debt burden using the appropriate real property value as the denominator. Then, comment on the size of the debt burden based on the rules of thumb discussed in the text
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