Budget planners for Richmond have determined that $7,381,200 will be required to provide all government services next year. The total assessed property value in the community is $116,500,500. What tax rate is required to meet the budgetary demands? (Express your answer in mills and round to the nearest tenth)
A) 15.78 mills
B) 1.58 mills
C) 6.36 mills
D) 63.36 mills
Correct Answer:
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