You are an intern at the Tax Assessors Office for Jefferson City and your supervisor has asked you to prepare the following:

The city has set the millage rate at 4% for all businesses. The spreadsheet in Appendix 5A has a partial listing of the citys businesses. Calculate the amount of taxes that can be expected along with the most effective tax rate (METR) for each business and an average tax rate using the partial list of businesses provided.

The millage rate for each of the seven properties is 4%.

Franklins Clothing has a market value of $625,000 and an assessed value of $525,000.

Paytons Tax Service has a market value of $575,000 and an assessed value of $475,000.

Stacies Lawn Care has a market value of $285,000 and an assessed value of $175,000.

Evas Finishing School has a market value of $400,000 and an assessed value of $325,000.

Tiffanys Day Care has a market value of $250,000 and an assessed value of $175,000.

Yieshas Hair Care has a market value of $370,000 and an assessed value of $300,000.

Myrons Boys Club has a market value of $650,000 and an assessed value of $575,000.

Business	Market Value	Assessed Value	Millage Rate	Tax Est.	METR
Franklin's Clothing	625000	525000	4%
Payton's Tax Service	575000	475000	4%
Stacie's Lawn Care	285000	175000	4%
Eva's Finishing School	400000	325000	4%
Tiffany's Day Care	250000	175000	4%
Yiesha's Hair Care	370000	300000	4%
Myron's Boys Club	650000	575000	4%