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adoni [48]
3 years ago
5

The total market value of a municipality is $25,000,000 and the total assessed value of a municipality is $11,250,000. What is t

he equalization rate for the municipality?
Business
1 answer:
gulaghasi [49]3 years ago
6 0

Answer: The equalization rate for the municipality is 45%.

Explanation:

Given that,

Total market value of a municipality = $25,000,000

Total assessed value of a municipality = $11,250,000

Therefore,

Equalization rate for the municipality =\frac{Assesed\ value}{market\ value}

= \frac{11250000}{25000000}

= 0.45

= 45%

Hence, the equalization rate for the municipality is 45%.

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