Questions: Goodsprings has a tax base of 90,000,000 and a budget of 1,100,000. What is the tax rate in terms of mills?

Solution Steps

To find the tax rate in terms of mills, we need to calculate the tax rate as a percentage and then convert it to mills. A mill is one-tenth of a cent, or 0.001 dollars. The tax rate in mills is found by dividing the budget by the tax base and then multiplying by 1,000.

To find the tax rate, we first calculate it as a decimal by dividing the budget by the tax base: $$\text{Tax Rate (Decimal)} = \frac{\text{Budget}}{\text{Tax Base}} = \frac{1,100,000}{90,000,000} = 0.012222222222222223$$

A mill is one-tenth of a cent, or $0.001$ dollars. To convert the tax rate from a decimal to mills, we multiply by $1,000$: $$\text{Tax Rate (Mills)} = 0.012222222222222223 \times 1,000 = 12.2222$$

Final Answer