If a community has total taxable real estate of $20 million and a yearly budget of $400,000, how much would every homeowner be charged for each $100 of assessed value?

To determine how much every homeowner would be charged for each $100 of assessed value, we first need to calculate the tax rate per $100 of assessed value based on the community's budget and total taxable real estate value.

The total yearly budget of the community is $400,000, and the total taxable real estate is $20 million. To find the tax rate, we can use the following formula:

1. First, we calculate the total taxable value per $100. Since we're looking for the tax rate per $100 of assessed value, we divide the total taxable value by 100: [ \text{Total taxable value per } $100 = \frac{20,000,000}{100} = 200,000 ]

2. Next, we can find the tax rate by dividing the total budget by the taxable value per $100: [ \text{Tax rate} = \frac{400,000}{200,000} ] This calculation gives: [ \text{Tax rate} = 2 ]

Therefore, the tax charge would be $2 for every $100 of assessed value. This means that if a homeowner has a property