I need help in Point 4 in clauclaing tax rate,, Please answer fast, and 100%.. I

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I need help in Point 4 in clauclaing tax rate,, Please answer fast, and 100%.. Its very important part..... I will be very thankful...

B) Taxes and Tax Rate Calculation (25 points) 1) What are the three components needed to calculate a tax rate? 2) Briefly explain or define what each are? 3) What is the one/single component that the school district controls? 4) Using the example from the power point we covered in class, calculate the tax rate for the hypothetical situation below; School district A has an equalization rate of .20 (20% of market value). Your property carries an assessed value of $20,000. (Hint: This is based upon your local assessor who traditionally assesses below full market value.) a b. What is the full/market/true value or your property? c. If the tax on true was $10/$1,000 on full value, what would be the tax? d. If the tax on assessed was $20/$1000 on assessed, what would be the tax?

Explanation / Answer

4… Assessed value $20,000 Equalisation rate= 20% * Market Value So market value=20000/20%= 100000 b. Full /market/true value of the property = $100,000 c. Tax would be $ 10/ $1000* $100000= $ 1000 d.Tax would be $ 20/$ 1000*20000= $ 400

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