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I am seeking assistance with my homework. . JLB_MPS 514_Hmwk 5.docx MPS 514 GOVERNMENT FINANCIAL ADMINISTRATION HOMEWORK 5 (Winter 2015, Online) 1. LaCrosse, Wisconsin has a property tax base with an appraised value consisting of $250,000,000 of taxable real property. The assessment ratio is 50%. Exemptions for the poor reduce assessed value by $3,000,000. LaCrosse has a planned budget of $15,000,000 and expects to receive $5,000,000 in non-property tax revenue. Compute the statutory property tax rate. The Marks family live in LaCrosse and their property has an appraised value of $70,000. What is the Marks family city property tax bill assuming they are not poor? (2 points) 2. Calculate the coefficient of dispersion for the following five properties, describe what this statistic is and evaluate the performance of the property assessor based on the calculated statistic. (1 point) Parcel Assessed Value Market Value 1 2 3 4 5 30,000 50,000 40,000 30,000 100,000 Assessment Ratio Median Assessment Ratio Absolute Dispersion 100,000 100,000 70,000 50,000 125,000 3. You have been asked to perform financial condition ratio analyses for two communities, Thriftyville and Myopica, based on data culled from each of their CAFRs. Both towns have a similar median family income of $50,000. Total long-term debt outstanding per capita is $1,500 for Thriftyville and $5,000 for Myopica. Thriftyville has operating revenues of $105,000,000 and Myopica has operating revenues of $90,000,000. Revenue from own sources for Thriftyville is $60,000,000 while it is 85,000,000 for Myopica. You can attribute the difference between total operating revenues and own source revenues as the intergovernmental revenue component for each community. Thriftyville has planned operating expenditures of $102,000,000 while Myopica has $100,000,000 in planned operating expenditures. Cash and short-term investments on hand for each community is $15,000,000. Current liabilities for Thriftyville are 8,000,000 while it is $14,000,000 for Myopica. For each community, please calculate a financial ratio (if necessary) for assessing 1) fiscal effort, 2) operating deficits, 3) stability of revenues, 4) ability to meet short-term commitments, and 5) ability to meet long-term commitments. Based on these calculations, explain who is doing financially better on each measure. (3 points) JLB_MPS 514_Hmwk 5 pg. 1 Read more

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