Question

Wellesville must meet a budget of $27,000. All of the city's income is derived from property tax. What rate of tax must they use if the assessed value of the taxable property is $1,173,913? (Answer to tenths)
how do you work this out?

Answer 1

Well, think about it.
Suppose their budget was 50% of the available property value. They'd have to tax it at 50%

Instead, their budget is 27000 out of an available 1173913. So, what % is that?

27000/1173913 = 0.023 or, 2.3%

Answer 2

2.3%