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The Village of Greenville is in the process of developing its revenues budget for the year ended December 31, 2021. The following information has been determined by the Village’s finance director: Revenues budgeted from property taxes $ 23,918,400 Estimated percentage of uncollectible property taxes 1% Assessed value of all property in the Village 648,000,000 Assessed value of property owned by nonprofit entities located in the Village 39,000,000 Exemptions for homestead, elderly, military veterans, and disabled 5,000,000 Required: What is the amount of the property tax levy needed to collect the budgeted amount of property tax revenue? Show your computations. What is the net assessed value of property? Show your computations. What is the property tax rate for 2020? Show your computations. Michael and Amanda Lewis own
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