Smallville is suffering annual losses of taxable properties, Ask an Expert

Economics

Smallville is suffering annual losses of taxable properties and property values of 1% each. Even so, Smallville must maintain its tax collections at a constant value of $3.2 million to maintain services. What is the required rate of increase in the tax rate? NOTE: While smallville uses a rate of 6% for the time value of money, that rate is irrelevant to this problem.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91274655

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