Determine the tax rate for quiet city

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Reference no: EM13777578

Assume the amount of property taxes needed to be collected to support the operation of Quiet City for fiscal year 2015 is $ 3,550,000 . Quiet City expects 4% of property taxes levied will be uncollectible. Assume total assessed value of property is $80,000,000 the value of property exempt from taxation is $2,000,000, and the total amount of exemptions because of military service, age or homestead usage is $2,400,000 . Determine the tax (millage) rate for Quiet City

Reference no: EM13777578

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