Suppose that, for 2010, properties in Paragon are not reassessed but that new construction increases total assessed value by 9 percent. The state enacts a new property tax control that allows the 2010 level to increase only by $1.80 over the 2009 level. Non property tax revenue is estimated to be $6.75 million. What is the maximum town property tax rate permitted, what is the maximum town expenditure, and what property tax bill would the Wooden family face? 

 

Answer rating: 100% (QA)

To calculate the maximum town property tax rate permitted the maximum town expenditure and the property tax bill for the Wooden family we need to cons... View the full answer