Asked by Gabrielle Murray on Apr 23, 2024
Verified
The total assessed value of property in Brockton has risen by $97 million from last year's figure of $1.563 billion. The property tax rate last year for city services was $0.94181 per $100 of assessed value. If the city's budget has increased by $750,000, what tax rate should it set for the current year?
Assessed Value
The value assigned to property by a government tax assessor to determine tax obligations.
Property Tax Rate
The percentage of a property's assessed value that is levied annually as tax by local governments, used to fund public services and amenities.
City Services
Public services provided by a city or town to its residents, such as water supply, sewage, trash collection, and emergency services.
- Acquire proficiency in and implement the calculation of property taxes to support public projects.
Verified Answer
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Learning Objectives
- Acquire proficiency in and implement the calculation of property taxes to support public projects.