Question: Suppose your town has issued a 3 0 - year bond to finance an expansion of the local sports complex. The bond payment is $

Suppose your town has issued a 30-year bond to finance an expansion of the local sports complex. The bond payment is $821,652.39 per year. There is a net assessed value of $986 million. a. Calculate the increase in the tax rate. b. Calculate the mill increase. c. Calculate the increase in annual property taxes for an individual with an assessed property value of $280,750.

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