In this assignment, you will explore property, excise, and business taxes. Property taxes are based on the assessed value of the property and then a millage rate is applied.
Use Florida state, Polk county, or school district Web site and Internet resources to research the millage in your district.
Respond to the following:
• What is millage in your taxing district? Assume you have property valued at $200,000; the assessed value is 35% and the millage is 100 mills. What would be the annual taxes on that parcel?
• Should local residents be given the ability to determine the millage rate, including what amount or percentage of the millage tax is used for local education, or should that be a function of the state or the local government?