This year, Lexon Company built a light industrial facility in County G. The assessed property...
90.2K
Verified Solution
Link Copied!
Question
Accounting
This year, Lexon Company built a light industrial facility in County G. The assessed property tax value of the facility is $29.0 million. To convince Lexon to locate within its jurisdiction, the county abated its 4 percent property tax for the year. Because of the local economic boom created by the new facility, the aggregate assessed value of County Gs property tax base (including the Lexon facility) increased to $34.6 million. Compute the net effect on County Gs current year tax revenue from the abatement. (Enter your answer in dollars not in millions of dollars.)
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.