Question

The assessed value of property in Enterprise County is $186,000,000. The county supervisors feel the county needs $9,525,000 in revenue. What is the tax rate (to 0.1 of a percent)? %

Answer 1

Hi there

The tax rate is
(9,525,000÷186,000,000)×100
=5.1%

Hope it helps

Answer 2

Answer

5.1%

Explanation

The revenue =  $9,525,000

The value of the enterprise = $186,000,000

For you to get the tax rate we have to ask your self, "what percent is  $9,525,000 of  $186,000,000?"

∴   (9,525,000/186,000,000) × 100%

Rate = 0.0512 × 100%

          = 5.12%

Answer to tenth; 5.1%