Question

Central city needs to have an income of $3,560,000. the total property is valued for taxation at $92,000,000. what is the tax rate (to the nearest tenth)?

Answer 1

Answer: Tax rate nearest tenth is 3.9%.

Step-by-step explanation:

Since we have given that

Value of total property for taxation = $92000000

Amount of income central city needs to have = $3560000

We need to find the tax rate :

tax rate is given by

$\frac{3560000}{92000000}\times 100\\\\=\frac{356}{92}\\\\=3.87\%\\\\=3.9\%$

Hence, Tax rate nearest tenth is 3.9%.

Answer 2

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below is the solution:

  $3,560,000 
------------------- x 100% = 3.86956521% = 3.9% rounded off 
$92,000,000