1. Government Finance: Lesson 3-Municipal
Revenues and Expenditures
1. Terms:
a. Municipal: city
b. Portioned Assessment: A number used to figure out
how much property tax you will pay in Manitoba. This
is based on the value of your building and property,
multiplied by a percentage listed on page 28.
c. Mill rate: the “percentage” that your portioned
assessment value is multiplied by to figure out your
property tax. “mill” means 1/1000th and percent
means 1/100th, so to convert “mill rate” to a decimal,
move the decimal point three times to the left.
i. Ex “Mill rate” of 35 mills in decimal form= 0.035
2. Assignment:
a. Read Lesson 3 and complete the following questions
to be handed in next class for a completion check:
i. Lesson 3: Q’s 2,4,6,8 and 10
3. Mathematics:

2. i. Follow the formulas listed in the lesson to get
answers.