Write an application that helps landowners determine what their property
tax will be for the current year. Taxes are based on the property’s assessed
value and the annual mileage rate. The established mileage rate for the
current year is $10.03 per $1000 value. Homeowners are given a $25,000
tax exemption, which means they may subtract $25,000 from the assessed
value prior to calculating the taxable value. Enable users to enter the
property address and the prior year’s assessed value. The township has
decided to increase all properties’ assessed value 2.7% for the current year
to add additional monies to the school budget line. Provide methods to
compute and return the new assessed value and the proposed taxes for the
current year. Provide another method that displays the formatted values.