Clarksdale has a property tax rate of $17.20 per $1,000 of assessed valuation and expects an increase

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Clarksdale has a property tax rate of $17.20 per $1,000 of assessed valuation and expects an increase in expenses of $197,500 over the current commitment of $6,985,000. The city must increase the tax rate or reassess property values. A reassessment would cost the city $45,000 and would increase the assessed value of property in the city to $416,830,000. The city council must make a choice based on whether the reassessed property will increase the revenue from taxes enough to cover the increase in expenses. Which should they choose?
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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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