solve for a problem from business and finance Math, it is about taxes in propety

timer Asked: Feb 28th, 2015

Question description

suppose you own a home with fair market value of $210000 and live in a municipality whose assessment rate is 42% of market value with a tax rate to remain of 30 mills. in the next year, the value of your home is to increases by 1% assessment rate to remain the same. if the township is considering increasing the tax rate, by how many mills can the rate decrease so that your property tax remains the same?

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