The following data were drawn from the CAFRs of two northern Virginia cities (all dollar amounts are
Question:
The following data were drawn from the CAFRs of two northern Virginia cities (all dollar amounts are in thousands):
Fairfax | Manassas | |
Population | 20,200 | 27,856 |
Value of taxable property | $1,933,472 | $1,948,337 |
Property tax levy | $18,664 | $24,534 |
Total general-fund revenues | $38,397 | $36,092 |
General-fund tax revenues | $31,861 | $29,706 |
Intergovernmental revenues | $5,050 | $2,351 |
1. Based on the limited data provided, which city has the greater resources on which to draw?
2. Which city imposes the greater tax burden on its population based on
a. Per capita total general-fund taxes?
b. Per capita property taxes?
c. Tax rate (i.e., property taxes as a percent of property value)?
3. Which city receives a greater amount of assistance from other governments
a. As a percentage of its total general-fund revenues?
b. Per capita?
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala