smallville is suffering annual losses of taxable properties and property values of 1% each. Even so, Smallville must maintain its tax collections at a constant value of $3.2 million to maintain services. What is the required rate of increase in the tax rate? NOTE: While smallville uses a rate of 6% for the time value of money.

Answer rating: 100% (QA)

To find the required rate of increase in the tax rate 1 Calculate the desired tax coll... View the full answer