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The assessed value of all the property in the County is $60,000,000 according to the...

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Accounting

The assessed value of all the property in the County is $60,000,000 according to the property appraiser. Of this amount, $5,000,000 belongs to the federal government or religious organizations and therefore, is not subject to property taxes. In addition, certificates for the following exemptions have been filed:

Homestead: 1,035,000

Veterans: 215,000

Widows: 215,000

Old age, blindness, etc.: 125,000

In the past, uncollectible property taxes averaged 1.5% of the levy. Using all the information, determine the property tax rate per $1,000 of assessed valuations (millage rate) that must be used to collect the desired revenues from property taxes. Show all your work.

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