Question

DeKalb County collects property taxes within its boundaries and received from the other governments a 3 percent fee for administering those collections. For the current fiscal year the county collected $300,000 for the City of DeKalb, $1,000,000 for the DeKalb School District, and $400,000 for the County General Fund. The total amount received by the County General Fund would be:

a. $400,000
b. $412,000
c. $451,000
d. $439,000

Answer 1

The total amount received by the County General Fund would be $412,000.

Step-by-step explanation:

The total amount received by the County General Fund would be $412,000.

This can be calculated by multiplying the amount collected for the City of DeKalb, DeKalb School District, and the County General Fund by 0.97, which accounts for the 3 percent fee collected by DeKalb County for administering the collections.

Therefore, $300,000 * 0.97 + $1,000,000 * 0.97 + $400,000 * 0.97 = $412,000.

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