Scenario: The CFT (Commission on Fiscal Transparency) is back complaining that your last presentation doesn’t show the people what their total property taxes will be as a result of the cuts in state aid, and, more importantly, if their taxes will go up more than 2%, the State cap on property tax increases. You’ll need to answer these questions ASAP.

In your previous presentation, you already calculated that your district will lose $5,848,117.98 in state aid. You also figured the increase in your tax rate to be .21131411% of full market value so that the increase in taxes for the average household is .21131411% x $375,000 = $792.43

Your task: Your job is to build on your prior work and expand your previous PowerPoint presentation to answer the questions posed by the CFT.

Be sure to show how to calculate
1. The total property tax for the average home in your district.
2. The % increase in the total property tax for the average home in your district.

Then decide if your % increase in the total property tax is above the 2% limit.

HINT: You should use the PPT called Quiz #8.template to understand this part. Go through it slide by slide using pencil, paper and a calculator. Then go back and fill in the question marks on the slides and send me the results as Quiz #8 Part 3.Quiz #8 template

The CFT (Commission on Fiscal Transparency) is back complaining that your last presentation doesn’t show the people what their total property taxes will be as a result of the cuts in state aid, and, more importantly, if their taxes will go up more than 2%, the State cap on property tax increases.

More about the CFT (Commission on Fiscal Transparency)

The National Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Committee – (NAC), has stressed on the importance for Seychelles to maintain its commitment and remain steadfast in its endeavour to adhere to the international standards on transparency and exchange of information for tax purposes.

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