What is the nominal tax rate in hicksville

Reference no: EM131955953

Question: The city of Hicksville has a proposed budget of $7,000,000 for the fiscal year. The city has an assessed value of $100,000,000 and will receive state aid of $100 per capita based on a census population of 15,000. The assessed value equals 25% of market value.

a. What is the nominal tax rate in Hicksville? (Assuming by "nominal" tax rate you are referring to the property tax rate ("r")).

b. What is the effective tax rate?

c. Hicksville is also thinking about changing from a traditional mass cyclical assessment system to a fractional assessment system. Explain both systems. In your opinion, which system is better?

Reference no: EM131955953

Questions Cloud

What is the portfolio expected returns : What is the portfolio's expected returns? What is the portfolio beta?

Calculate the current market value of citadel holdings stock : Citadel Holdings is experiencing rapid growth. The company expects dividends to grow at 15% per year for the next 4 years before leveling off at 6%.

What is the total relevant cost to make jy-sixty five : Palisades Corporation's Midwest Division manufactures. What is the total relevant cost to make JY-65? What is the total relevant cost to purchase JY-65?

How fast is the block moving when it reaches the lower : If the 10kg block shown above with the same frictional characteristics and starting from rest slides down the incline in such a way as its height

What is the nominal tax rate in hicksville : What is the nominal tax rate in Hicksville? (Assuming by "nominal" tax rate you are referring to the property tax rate ("r")).

What advancement barriers is marina encountering : What could Roy do to ensure that Marina's work will be covered during her absence and that taking this time off will not hurt her advancement?

Calculate the fraction of the electrons : Calculate the fraction of the electrons in one sphere that must be transferred to the other to produce an attractive force of 2.00 104 N

Analyse the costs of the two sources of finance : Analyse the costs of the two sources of finance under consideration with reference to. Explain the importance of financial planning for Clariton Antiques Ltd.

How much overhead cost per unit would be applied to product : How much overhead cost per unit would be applied to each product? Compute the total amount of overhead cost that would be applied to each product.

User Account

All Pages