What is the property tax rate does paragon need to adopt

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Reference no: EM131544146

The following data are for the town of Paragon (Paragon is required to produce a balanced budget) in the fiscal year ending June 30, 2009:

• Budgeted town expenditures: $15,000,000.00

• Estimated non-property tax revenues: $11,000,000.00

• Appraised value of property: $200,000,000.00

• Total exemptions for the elderly: $8,000,000.00

• Assessment ratio: 60%

What is the property tax rate does Paragon need to adopt to balance their 2009 budget

Reference no: EM131544146

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