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This year, Lexon Company built a light industrial facility in County G. The assessed property...

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Accounting

This year, Lexon Company built a light industrial facility in County G. The assessed property tax value of the facility is $29.0 million. To convince Lexon to locate within its jurisdiction, the county abated its 4 percent property tax for the year. Because of the local economic boom created by the new facility, the aggregate assessed value of County Gs property tax base (including the Lexon facility) increased to $34.6 million. Compute the net effect on County Gs current year tax revenue from the abatement. (Enter your answer in dollars not in millions of dollars.)

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