business math question

Question

Property in the Bello School District has a total assessed value of $98,500,000.

The district’s budget for next year shows expenses totaling $5,000,000. The

district expects to receive $3,200,000 from sources other than property tax.

What decimal property tax rate, to the nearest ten thousandth, will the district

use to raise enough money to meet budgeted expenses?

Answer 1

5 million minus 3.2 million = 1.8 million needed

98.5 million times x % = 1.8 million

x = 1.8/98.5 = 0.018274111...

= about 1.83% property tax rate

or if you mean ten thousandths of a percent

= 1.8274 %