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A Municipality Requires an Extra $3,000,000 for Its Operating Budget

Question 150

Multiple Choice

A municipality requires an extra $3,000,000 for its operating budget next year. The current mill rate is 8.3573 and the assessed values of properties in the municipality remains constant at $8.58 billion. Calculate next year's mill rate.


A) 8.3497
B) 8.3923
C) 11.8538
D) 9.7684
E) 8.7070

Correct Answer:

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