Calculate the mil rate and rate per hundred

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1. The total assessed value for all private property in the Anvil Public School district is $4 billion. Properties are taxed at a rate of 18% of this value. The school budget for the coming year is $62 million. Calculate the mil rate and rate per hundred. Note: save your calculations for the following question.

A. mil rate = .19; rate per hundred = $19

B. mil rate = .0816; rate per hundred = $8.16

C. mil rate = .668; rate per hundred = $66.80

D. mil rate = .836; rate per hundred = $8.36

2. The total assessed value for all private property in the Anvil Public School district is $4 billion. Properties are taxed at a rate of 18% of this value. The school budget for the coming year is $62 million.  The Hitchcock family residence has an assessed market value of  $212,000. What will their property tax bill be?  Note: use your calculations from the Anvil Schools question.

A. $2,332

B. $2,598

C. $3,287

D. $12,275

Reference no: EM131789981

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