ou are tasked with calculating the property tax needed to fund the construction and operation of a $22.5 million complex. The facility's annual operating budget is forecast at $3.6 million, to be covered by revenues from programs offered at the facility. A 30-year general obligation bond with a rate of 5.5% will be issued to pay for the facility's construction costs. The net assessed value of property in the municipality is $725 million. Calculate the amount that must be set aside each year to meet the bond's principal and interest obligations over 30 years.
You are tasked with calculating the property tax needed to fund the construction and operation of a $22.5 million complex. The facility's annual operating budget is
Calculate the amount that must be set aside each year to meet the bond's principal and interest obligations over 30 years.
Calculate the additional mileage required to cover the project's debt service.
For an owner of the property with a total assessed value of $15,000, by how much will his/her property tax increase?
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