Midland School District needs $56,483. The taxing authority has determined that the total assessed value of...
Midland School District needs $56,483. The taxing authority has determined that the total assessed value of all the real estate in the district is $8,825,470. Find the property tax rate to the nearest hundredth of a percent.
Homework Answers
Taxes required = Tax rate x Assessed value
Hence, $56,483 = T x $8,825,470
Hence, Tax rate, T = 56,483 / 8,825,470 = 0.64%
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