Blunt County needs $700,000 from property tax to meet its budget. The total value of assessed property in Blunt is $110,000,000. What is the tax rate of Blunt? Round to the nearest ten thousandth.
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Blunt County needs $700,000 from property tax to meet its budget. The total value of assessed property in Blunt is $110,000,000. What is the tax rate of Blunt? Round to the nearest ten thousandth.
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- A new school building was recently built in the area. The entire cost of the project was $26,000,000. The city has put the project on a 30-year loan with an APR of 3.3%. There are 17,000families that will be responsible for making monthly payments towards the loan. Determine the total amount that each family should be required to pay each year to cover the cost of the new school building. Round your answer to the nearest cent, if necessarYou are tasked with calculating the property tax needed to fund the construction and operation of a $22.5 million complex. The facility's annual operating budget is forecast at $3.6 million, to be covered by revenues from programs offered at the facility. A 30-year general obligation bond with a rate of 5.5% will be issued to pay for the facility's construction costs. The net assessed value of property in the municipality is $725 million. Calculate the amount that must be set aside each year to meet the bond's principal and interest obligations over 30 years. Calculate the additional mileage required to cover the project's debt service. For an owner of the property with a total assessed value of $15,000, by how much will his/her property tax increase?A new school building was recently built in the area. The entire cost of the project was $16,000,000. The city has put the project on a 20-year loan with an APR of 2.6%. There are 15,000 families that will be responsible for making monthly payments towards the loan. Determine the total amount that each family should be required to pay each year to cover the cost of the new school building. Round your answer to the nearest cent, if necessary.
- The municipality of Smallville has arranged to borrow $30 million in order to implement several public projects (flood control, school security, etc.). The interest rate will be 3% per year, payable at the end of each year. This $30 million debt will be retired by making payments of $5 million at the end of each year. The Board of Supervisors is concerned that it will take too long to pay off this debt. How many years will it take to retire this $30 million debt and its associated interest payments?After seeing its neighboring village obtain a new water tower, the city board of East Dubuque begins planning to replace its water towers. The board estimates that it will need $1,750,000 to build the new water towers in 20 years. At this time, the city board plans to assess its 2753 homeowners with a one-time flat fee surcharge and the n invest the money received in a CD paying 9% interest compounded daily(use n=360) for 20 years. a.) How much money will the board need to raise at this time to meet the city’s water tower needs at the end of 20 years? b.) Before applying the surcharge, the city board receives a federal grant of $100,000 toward the water tower investment. Taking this grant into account, how much should the surcharge be on each homeowner?The state of Glottamora has $100 million remaining in its budget for the current year. One alternative is to give Glottamorans a one-time tax rebate. Alternatively, two proposals have been made for state expenditures of these funds. The first proposed project is to invest in a new power plant, costing $100 million and having an expected useful life of 20 years. Projected benefits accruing from this project are as follows:YEARS BENEFITS PER YEAR ($ MILLIONS)1–5 06–20 20The second alternative is to undertake a job retraining program, also costing $100 million and generating the following benefits:YEARS BENEFITS PER YEAR ($ MILLIONS)1–5 206–10 1411–20 4The state Power Department argues that a 5 percent discount factor should be used in evaluating the projects because that is the government’s…
- A beautiful bridge is being built over the river that runs through a major city in your state. The cost of the bridge is estimated at $600 million. Annual costs of the bridge will be $200,000, and the bridge is estimated to last a very long time. If accountants in city hall use 3% as the interest rate for analysis, what is the annualized cost of the bridge project? (a) $18 million (b) $18.2 million (c) $20,000 million (d) $219,500 million?An income-producing property is priced at $600,000 and is expected to generate the following after-tax.cash flows: Year 1: $42,000; Year 2: $44,000; Year 3: $45,000; Year 4: $50,000; and Year 5: $650,000. Calculate the NPV if the required rate of return is 15%. (If the calculated NPV is negative, report it as negative)The Goodsmith Charitable Foundation, which is tax- exempt, issued debt last year at 8 percent to help finance a new playground facility in Los Angeles. This year the cost of debt is 25 percent higher; that is, firms that paid 10 percent for debt last year will be paying 12.50 percent this year. a. If the Goodsmith Charitable Foundation borrowed money this year, what would the aftertax cost of debt be, based on their cost last year and the 25 percent increase? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Aftertax cost of debt % b. If the receipts of the foundation were found to be taxable by the IRS (at a rate of 30 percent because of involvement in political activities), what would the aftertax cost of debt be? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Aftertax cost of debt %
- The Goodsmith Charitable Foundation, which is tax-exempt, issued debt last year at 10 percent to help finance a new playground facility in Los Angeles. This year the cost of debt is 30 percent higher; that is, firms that paid 12 percent for debt last year will be paying 15.60 percent this year. If the Goodsmith Charitable Foundation borrowed money this year, what would the aftertax cost of debt be, based on their cost last year and the 30 percent increase? (Do not round intermediate calculations. Input the answer as a percent rounded to 2 decimal places.) If the receipts of the foundation were found to be taxable by the IRS (at a rate of 35 percent because of involvement in political activities), what would the aftertax cost of debt be? (Do not round intermediate calculations. Input the answer as a percent rounded to 2 decimal places.)The town of Podunk is considering building a new downtown parking lot. The land will cost $25,000, and the construction cost of the lot will be $150,000. Each year, costs associated with the lot will be $17,500. The income from the lot is $18,000 the first year, increasing by $3500 each year for the 12-year expected life of the lot. Determine the B/C ratio if Podunk uses a cost of money of 4%.The Goodsmith Charitable Foundation, which is tax-exempt, issued debt last year at 9 percent to help finance a new playground facility in Los Angeles. This year the cost of debt is 15 percent higher; that is, firms that paid 11 percent for debt last year will be paying 12.65 percent this year. a. If the Goodsmith Charitable Foundation borrowed money this year, what would the aftertax cost of debt be, based on Its cost last year and the 15 percent increase? Note: Do not round Intermediate calculations. Input your answer as a percent rounded to 2 decimal places. Aftertax cost of debt % b. If the receipts of the foundation were found to be taxable by the IRS (at a rate of 35 percent because of involvement in political activities), what would the aftertax cost of debt be? Note: Do not round Intermediate calculations. Input your answer as a percent rounded to 2 decimal places. Aftertax cost of debt %