1. Municipal finances
1

2. Revenue:
Expenditures:
2

3. Property classification and Portioned Assessment
3

4. 4

5. Marlon Davis owns a single family residence.
The market value assessment of the land is
$12000, and the market value assessment of the
building is $189000. What will Mr. Davis's
portion assessment be if the portion percentage is
45%?
5

6. 6

7. Mill rate:
The tax rate established by the municipality on
property
Total Revenue Required
Property tax rate =
Total Portioned Assessment
7

8. We require $15,000,000 to be raised from
property tax for a new stadium. The total
portioned assessment of all taxable properties is
$598,000,000. What will the tax rate be?
8

9. Assignment #3
Questions 1 - 9
Use 45% for portion assessment
9