Acworth expects an increase in expenses of $215,000 over the currently budgeted $1,996,801. The town must increase

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Acworth expects an increase in expenses of $215,000 over the currently budgeted $1,996,801. The town must increase the tax rate or reassess property values. A reassessment would cost the town $27,500 and would increase the assessed value of property in the town to $28,500,000. The town 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 if the town property currently has an assessed evaluation of $23,678,300 and the current town property tax rate is $6.83 per $100?
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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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