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- The City of Cherokee adopted an appropriations ordinance of $20,500,000 for the General Fund...

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Accounting

- The City of Cherokee adopted an appropriations ordinance of $20,500,000 for the General Fund for the current fiscal year.

- Estimated revenues other than property taxes amounted to $10,000,000.

- The total market value of taxable property in Laredo is $970,000,000.

- The assessment ratio was 60% for the budget year.

- Homestead and veteran exemptions were $15,000,000 based on assessed value.

- The estimated uncollectible tax percentage is 3%.

REQUIRED: Provide the assessed rate per $100 in valuation in dollars for Cherokee City for the current fiscal year

Round to the nearest 10th of a cent.

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