The Clemente family lives in Wasatch County, while the Law family lives on adjacent land in San Pedro County. The parcels of land the families occupy are both in the Murtaugh School District and happen to have identical market values of $500,000. The property tax rate for the school district is 2% of assessed value.
a. Identify the equity issue regarding these land parcels if the Wasatch County assessor assess land at 100% of market value, while the San Pedro County assessor assess land at 80% of market value.
b. Calculate the property tax paid by each family if the equity issue is not addressed and if it is addressed.