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%
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?
2 answers
2.3%