1 Using the Table Below for the Town of Cumberland, Maine(Attached in the additional materials), answer the following questions:
- Between 2011 and 2020, what increased more, the Tax Levy or the Assessed Valuation? What also changed as a result?
- Is the Equalized State Valuation to the Assessed Valuation ratio consistent across the 10 years? What is unique about this ratio in 2020?
2 The projected budget for FY23 for Alachua County School District, FL, requires raising $93,323,864 from Local Property Taxes for Operations.
- If the Assessed Value of the County is $17,224,018,082, what is the millage rate required to fund the schools?
- If the Median House in Alachua County is valued at $186,000, how much in school taxes will a median household pay in property taxes in FY23?
- If the FY24 school operating budget is supposed to grow by 3% but the tax base is expected to grow by 12% due to inflows of residents moving to FL, what would the estimated millage rate be for FY24?