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Middleton, Wisconsin has a property tax base with an appraised value consisting of $400,000,000 of taxable real property. The assessment ratio is 70%. Exemptions for the poor reduce assessed value by $5,000,000. Middleton has a planned budget of $40,000,000 and expects to receive $10,000,000 in non-property tax revenue. Compute the statutory property tax rate. The Hill family live in Middleton and their property has an appraised value of $50,000. What is the Hill family’s city property tax bill?

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Financial Management, Finance

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