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The following data are for the town of Paragon (Paragon is required to produce a...

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Accounting

The following data are for the town of Paragon (Paragon is required to produce a balanced budget) in the fiscal year ending June 30, 2021: Budgeted town expenditures: $15,000,000.00 Estimated non-property tax revenues: $11,000,000.00 Appraised value of property: $200,000,000.00 Total exemptions for the elderly: $8,000,000.00 Assessment ratio: 60% Suppose that properties in Paragon are not reassessed for tax year 2021, but new construction increases the total appraised value of the towns taxable

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