Question

The total market value of a municipality is $25,000,000 and the total assessed value of a municipality is $11,250,000. What is the equalization rate for the municipality?

Answer 1

Answer: The equalization rate for the municipality is 45%.

Step-by-step explanation:

Given that,

Total market value of a municipality = $25,000,000

Total assessed value of a municipality = $11,250,000

Therefore,

Equalization rate for the municipality =
`(Assesed\ value)/(market\ value)`

=
`(11250000)/(25000000)`

= 0.45

= 45%

Hence, the equalization rate for the municipality is 45%.