The town council of the suburb of happy valley

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The town council of the suburb of Happy Valley has concluded that to breakeven from a fiscal point of view, a new housing unit must have a taxable value (v*) of $250,000. Land in Happy Valley currently sells for $40,000 an acre ( r). Using the rule of thumb discussed in class, what will the Happy Valley council set as the minimum lot size?

Reference no: EM131010005

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