Answer:
Blue's tax rate should equal 0.57%
Explanation:
To calculate Blue's tax rate we have to divide the amount of money they need to meet its budget requirements by the total value of assessed property.
Blue's tax rate = ($800,000 / $140,000,000) x 100 = 0.0057 x 100 = 0.57%
Most cities use property taxes to raise revenue, and it probably is the most commonly used method. Other taxes include municipal sales taxes and municipal income taxes.
