What property tax rate should Freetown have if it has a homestead exemption of $20,000.
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P 13
Freetown has an annual budget of $110 million. The town council expects revenue from sales taxes, speeding tickets, and license fees to be $60 million. The town has the following property (with aggregate values in parentheses): religious buildings ($20 million) apartment complexes ($65 million), shopping centers ($85 million), industrial warehouses ($50 million), public schools ($15 million), and office buildings ($195 million). In addition, the town has 1,500 homes valued at $100,000 each. What property tax rate should Freetown have if it has a homestead exemption of $20,000.
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- 12. Budget planners for a certain community have determined that $7,271,000 will be required to provide all government services next year. The total assessed property value in the community is $110,000,000. What tax rate is required to meet the budgetary demands? (Express your answer as a tax rate per $100 to two decimal places rounded up.) $Problem #2. The budget planners for Mountain View have determined that $3,224,000 will be needed to provide government services for next year. The total assessed property value in Mountain View is $74,200,000. As the tax assessor, you have been asked by the city council to determine what tax rate will need to be imposed to meet these budgetary demands. Express your answer in each of the four ways: (a) percent; (b) tax rate per $100; (c) tax rate per $1,000; (d) mills.Problem #2. The budget planners for Mountain View have determined that $3,724,000 will be needed to provide government services for next year. The total assessed property value in Mountain View is $72,700,000. As the tax assessor, you have been asked by the city council to determine what tax rate will need to be imposed to meet these budgetary demands. Express your answer in each of the four ways: (a) percent; (b) tax rate per $100;
- Budget planners for a certain community have determined that $9,235,400 will be required to provide all government services next year. The total assessed property value in the community is $122,500,000. What tax rate is required to meet the budgetary demands? (Express your answer as a tax rate per $100 and round to the nearest hundredth)A provincial Minister of Education recently announced that his government's forecast expenditure of $2.68 billion on education next year represents 23.5% of the provincial budget.Rounded to the nearest million dollars, what is the province's total budget for the next year?Province's total budget = $ __BillionBlunt County needs $700,000 from property tax to meet its budget. The total value of assessed property in Blunt is $110,000,000. What is the tax rate of Blunt? Round to the nearest ten thousandth.
- The government of Talonia has decided to stimulate its economy by increasing is spending during the upcoming fiscal year. The government's economic advisors have determined that for each 100 in stimulus spending received, 24% will be repaid to the government for taxes, 18% of after-tax income will be saved, 22% will be spent on imports, and the remaining balance will be spent on domestically produced goods and services. Determine what fraction of expenditures is recycled and calculate the value of Talonia's multiplier.The city planning committee is allocating funds for a sustainable urban development project. e total budget for the project is $3,000,000 (without GST). The committee has divided the udget among three key areas: Residential Infrastructure, Commercial Zones, and Green Express the budget allocation as a percentage of the total budget. After expressing the budget in percentages, answer the following questions: a. What percentage of the total budget is allocated to Residential Infrastructure compared to Commercial Zones? b. If the budget for Green Spaces is increased to $400,000, by what percentage has it been increased? C. After the increase made in part b, what is the new ratio of the budget allocated among the three key areas?Communication The city of Milton has an annual budget cycle that begins on July 1 and ends on June 30. At the beginning of each budget year, an annual budget is established for each department. The annual budget is divided equally among the 12 months to provide a constant monthly static budget. On June 30, all unspent budgeted monies for the budget year from the various city departments must be returned to the General Fund. Thus, if department heads fail to use their budget by year-end, they will lose it. A budget analyst prepared a chart of the difference between the monthly actual and budgeted amounts for all departments in a recent fiscal year. The chart was as follows: Write a memo to Stacy Poindexter, the city manager, interpreting the chart and suggesting improvements to the budgeting system.
- Q) South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30,000 students are enrolled on campus. Howerver, the university is forecasting a 5 percent growth in student numbers in the coming year, despite an increase in fees to $3,000 per subject. The following additional information has been gathered from an examination of university records and conversations with university managers: (i) South Hampton is planning to award scholarships to 200 students, which will cover their fees. (ii) The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semester per year. (iii) The average academic staff salary is $120,000 per annum including on-costs. (iv) South Hampton's academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic…The university system in the State of Florida consists of the 10 universities listed in the table. In a recent year, the general budget allocation for the system amounted to more than 2 billion dollars: $2,001,102,854. University Headcount FTE University of Florida 41,387 29,673 Florida State University 30,999 21,263 Florida A&M University 11,519 8,049 University of South Florida 31,127 18,477 Florida Atlantic University 19,552 10,769 University of West Florida 7845 4758 University of Central Florida 30,002 18,489 Florida International University 30,092 17,179 University of North Florida 11,220 6562 Florida Gulf Coast University 2558 1914 Subtotal E & G 216,301 137,133 (a) If the state decides to apportion the money equally among the 10 universities, how much will each university get? Answer to the nearest dollar.$ (b) How much money will each student be allocated if the money is apportioned equally among all the students? Answer to the…2.3 Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales: Quarter 1 $4,780,000 Quarter 2 5,690,000 Quarter 3 630,000 Quarter 4 8,200,000 In Shalimar’s experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in the quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter after the sale. The remaining 3 percent are never collected. Total sales for the third quarter of the current year are $5,080,000 and for the fourth quarter of the current year are $7,220,000.
