Answer:
2.29%
i.e. $22.91 per $1000 of assessed valuation.
Explanation:
The computation of the property tax rate per $1,000 of assessed valuations is given below;
Amount to be collected $800,000
Estimated uncollectible Prop Taxes 3%
Required tax levy ($800,000 ÷ .97) $824742.27
Total assessed value $50,000,000
Less Property not taxable $10,000,000
Less exemptions -$2,500,000
Homestead $2,500,000
Veterans $1,000,000
Old age ,blindness $500,000
Net assessed value $3,600,0000
Now
Tax Rate is
= required tax levy ÷ net assessed value of property
= 2.29%
i.e. $22.91 per $1000 of assessed valuation.
