A school districts property tax rate rises from 2.5% to 2.7% to cover a $300,000 budget deficit. What is the value of the property in the school district to the nearest dollar. PLEASE HELP
Total Increase in tax rate= 2.7%-2.5% =0.2% Now to find the total value of the property, we get Total value= $300,000/0.2% As 0.2% = 0.2/100 = 0.002 Total value= $300,000 x 1/0.002 Total value=$150,000,000
