Question

Find the tax rate expressed as a percent of assessed value for the city of Rochester, which anticipates a budget of $1,060,380, and has property assessed at $23,564,000. Round your answer to the nearest tenth of a percent.

Answer 1

The tax rate for the city of Rochester is 4.5% of the assessed property value, derived by dividing the city's budget by its total property assessments and converting the result into a percentage.

Step-by-step explanation:

To find the tax rate as a percent of the assessed value for the city of Rochester, which has a budget of $1,060,380 and property assessed at $23,564,000, you need to divide the budget by the total assessed property value and then multiply by 100 to convert it to a percentage.

First, divide the budget by the assessed value:

$1,060,380 / $23,564,000 = 0.04499 (approximately)

Next, convert the decimal to a percentage by multiplying by 100:

0.04499 * 100 = 4.499%

Round this number to the nearest tenth of a percent to get:

4.5%

Therefore, the tax rate expressed as a percent of the assessed value for the city of Rochester is 4.5%.