The statistical section of the city of Tallahassee’s CAFR for the fiscal year ended September 30, 2016 contains several schedules regarding the city’s outstanding debt. One schedule shows that the outstanding tax-supported debt at September 30, 2016 was $91,825 thousand. Other schedules show the following statistics:

Assessed value of all real property in the city	$17,451,681 thousand
Taxable assessed value of property (after exemptions)	$9,594,507 thousand
Estimated actual value of taxable property	$20,531,389 thousand

Calculate the city’s debt burden using the appropriate real property value as the denominator.

Round answer to two decimal places (ex: 0.00745 = 0.75%).

Answer rating: 100% (QA)

Citys debt burden Valu... View the full answer