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If you live in a state that needs to collect $18 million in property taxes and has a tax rate of 2.77%, what is that states taxable value
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- 12 If your state has a property tax rate of 0.063, and you pay $8,323 in property taxes every year, what is the assessed value of your property?If you live in a state that needs to collect $18 million in property taxes and has a tax rate of 2.77%, what is that state’s taxable value? $650 million $65 million $6 million $499,000If you pay $1,432.40 in taxes, how much would be put toward townships if your state puts $0.03 of each dollar toward townships?
- If your state has a property tax rate of 0.063, and you pay $8,323 in property taxes every year, what is the assessed value of your property? a S132.111.11 b. $58.328.24 $524.35 d.$2.434.90Chuck a single taxpayer earns $78,000.00 in taxable income and $13, 300.00 in interest from an investment in city of heflin bonds. How much federal tax will he owe? What is his average tax rate? What is his effective tax rate? What is his current marginal tax rate?"Your company will generate $470,000 in taxable income for 2020. Assume that your state tax rate is 7% and your federal tax rate is 21%. How much federal tax do you owe?"
- Suppose a tax is such that an individual with an income of $10,000 pays $2000 of tax, a person with an income of $20,000 pays $3000 of tax, a person with an income of $30,000 pays $4000 of tax, and so forth. What is each person’s average tax rate? Is this tax regressive, proportional, or progressive?You own an a townhome with an assessed value of $182,100. The tax rate is $2.20 per $100 of assessed value. (Round your answers to the nearest cent.) (a) What is the amount of property tax (in $)? $ (b) If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? $ (c) If the state charges a mandatory 3 1 2 % penalty for late payments, how much (in $) would the tax bill amount to if you paid late? $Chuck , a single taxpayer earns $81,400 in taxable income and $13,600 in interest from an investment in City of Heflin bonds. a. How much federal tax will he owe? b. What is his average tax rate? c. What is his effective tax rate? d. What is his current marginal tax rate?
- Congress would like to increase tax revenues by 18 percent. Assume that the average taxpayer in the United States earns $53,000 and pays an average tax rate of 25 percent. a. If the income effect is in effect for all taxpayers, what average tax rate will result in a 18 percent increase in tax revenues?If the tax rates are 15% on the first $50,000 of taxable income, and 20% on the next $25,000, and 25% on the next $25,000, what is the tax liability for an individual with $80,000 of taxable income, what is the marginal tax rate, and what is the average tax rate ? a. $10,250, 15%, and 20% b. $25,122, 22%, and 16% c. $11,345, 15%, and 34% d. $13,750, 25%, and 17.19%4.An individual made $85,000 for the year. Using the tax given , answer the following questions: A.What is this person's marginal tax rate? B.How much tax does this person owe? C.What is the effective tax rate?