Question: A municipality needs to increase its operating budget. Currently, the assessed value of all properties in its municipality total $1.3555 billion and the tax rate

A municipality needs to increase its operating budget. Currently, the assessed value of all properties in its municipality total $1.3555 billion and the tax rate is set at 0.976513. If the municipality needs an additional $1.8 million next year, what tax rate should it set assuming the assessed values remain constant

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