2200 , ARITHMETIC
Assessors are persons authorized to make a list of all taxable property together with its estimated value.
The estimated value is called the assessed value, and every property owner pays a tax on the assessed value of his property.
The rate of taxation varies in different communities, and from year to year, as it is regulated by the amount of taxable property and the amount of money which the community needs to meet its expenses.
The assessors determine the rate of taxation yearly by dividing the amount of money to be raised (after deducting the amount of poll taxes) by the total value of property.
A tax rate of If % means $17.50 on a thousand dollars, and is so stated on the tax bill.
The collector is the one appointed to collect the taxes, and he gives the money to the treasurer.
The total valuation of a town is $825,575, and the tax levy is $17,061.50. There are 275 poll taxes at $2.00 each. What is Mr. Grover's tax on property assessed at $8200 ?
$2.00 $17,061.50 whole tax
275 $ 550.
$550. = poll tax $16,511.50 property tax
______^? $ 8200 Mr. Grover's property
825,575)16,511.50 .02
16,511.50 $164.00 Mr. Grover 's property tax
Eate = 2% or $2.00 on a thousand $ 2.00 Mr. Grover's poll tax
$166.00 Mr. Grover's whole tax
EXEECISE 38.
1. The valuation of property in a certain town is $985,500. The tax to be raised on the property is $16,753.50. What must be the rate? How much on a thousand?
2. What is the amount of Mr. Moore's tax if he owns $9300 worth of property, and pays a poll tax of $2.00!
3. Mr. Ames owns property valued at $12,560 in a town whose valuation is $865,000. What will be his share of a tax of $15,570?
CUSTOMS AND DUTIES.
Customs or duties are taxes levied by the government on imported goods.
Certain goods are on the free list; that is, they are admitted withont duty.
