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

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COMR40S Govt Fin L3 Municipal Fin

  • 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.