Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the statistical section of the city of tallahassee

The statistical section of the city of Tallahassees CAFR for the fiscal year ended September...

80.2K

Verified Solution

Question

Accounting

The statistical section of the city of Tallahassees CAFR for the fiscal year ended September 30, 2016 contains several schedules regarding property tax collections. One schedule shows that (a) the total property taxes levied for the year was $40,352 thousand and (b) the amount of taxes collected in 2016 against that levy was $38,837 thousand. Another schedule contains a statement indicating that Florida statutes permit discounts of up to 4 percent for early payment of taxes; the schedule indicates that Tallahassee granted discounts and made adjustments in the amount of $1,433 thousand during 2016. Required: Calculate the property tax collection rate (ratio of current-year real property taxes collected to the current-year real property tax levy). Round answer to one decimal place (ex: 0.7845= 78.5%)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Determine two goals (one short term and one long term) that you wish to achieve(you can...

Finance
Q

1 Based on classic perspectives of personality (module 38), how is personality measured? (100 words minimum) 2...

Psychology
Q

A major league pitcher stands on the pitching mound 60ft 6in from home plate throws a...

Physics
Q

Question 4 Which of these is one of the main ways that new species forms...

Biology
Q

Solve the equation below by graphing Find all of the solutions Try it with your...

Algebra
Q

1 3i 6 4i

Algebra
Q

Solve it's not easy. We roll a symmetric die 200 times. What is...

Accounting
Q

3. Canada Capital Company uses a job-order costing system. The following data relate to October,...

Accounting
Q

QUESTION 1 (25 MARKS) Seri Wani Medical Centre (SWMC), a newly set-up hospital,...

Accounting
Q

Bob Company has net operating income of $245,000, invested assets at the beginning of the...

Accounting
Q

Question 3) Assame that on Junc somparly eses a perpetual inventery sydem. During Junc, these...

Accounting
Q

The income statement of Blossom Company is presented here. Additional information: 1. Accounts receivable decreased...

Accounting