Chapter 20, Problem 50ES

To determine

Whether the town council reassessed property will increase the revenue from taxes to cover the increase expenses if the current assessed property value $\text{\$1,996,801}$, expected increased expenses $\text{\$215,000}$, cost of reassessment $\text{\$27,500}$, expected reassessment value $\text{\$28,500,000}$ and current tax rate $\text{\$6}\text{.83 per \$100}$.