This year, Santhosh, a single taxpayer, estimates that his tax liability will be $100,000. Last year, his total tax liability was $15,000. He estimates that his tax withholding from his employer will be $35,000.
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On January 1, 2020, a county government sends out property tax bills in the amount of $100,000,000. Of this amount, $15,000,000 is estimated to be uncollectible. During the year, $88,000,000 is collected.
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