Question

blunt county needs $700,000 from property tax to meet its budget. the total value of assessed property in blunt is $110,000,000. what is the tax rate of blunt? (round to the nearest ten thousandth. express the rate in mills.)

Answer 1

The tax rate of Blunt County is 6.36 mills.

Step-by-step explanation:

To calculate the tax rate of Blunt County, we divide the amount of money needed from property tax ($700,000) by the total value of assessed property in Blunt ($110,000,000). The tax rate can be expressed in mills, which is equal to one-tenth of a cent. To convert the tax rate to mills, we multiply it by 1,000.

So, the tax rate of Blunt County is (($700,000 / $110,000,000) * 1,000) mills. Rounding to the nearest ten thousandth, the tax rate is 6.36 mills.

Answer 2

The tax rate for Blunt County is 6.3636 mills when rounded to the nearest ten thousandth, based on needing $700,000 from property taxes and a total value of assessed property at $110,000,000.

Step-by-step explanation:

To calculate the tax rate for Blunt County, we can use the following formula: tax rate = (total needed from tax / total value of assessed property) x 1000. Given that Blunt County needs $700,000 from property tax and the total value of assessed property is $110,000,000, the calculation would be:

tax rate = (700,000 / 110,000,000) x 1000 = 6.3636.

Therefore, the tax rate in Blunt County would be 6.3636 mills, rounded to the nearest ten thousandth.