5. The municipality of Waterloo needs $915,000 from property tax to meet its budget. The total value of

assessed property in Waterloo is $14,000,000. What is the tax rate per dollar? (Round your answer to the

nearest thousandth.)

A. $.0655

B. $.07

C. $.065

D. $.071

Let us assume the tax rate per dollar = x

Amount of money needed as tax = $915000

Assesses property value = $14000000

Then

14000000 * x = 915000

x = 915000/14000000

= 0.065 dollars

From the above deduction it can be concluded that the correct option among all the options that aregiven in the question is option "C".