Given the Following Information, Compute the Property Tax Rate for the Community

Multiple Choice

Given the following information, compute the property tax rate for the community in mills. Total budget expenditures: $250 million, Total non-property tax income: $150 million, Total assessed value of all properties: $5 billion, Total exemptions: $900 million.

A) 2.00 mills
B) 2.43 mills
C) 20.0 mills
D) 24.3 mills