Property tax was the first tax levied in the state of Washington and its collection accounts for about 30% of Washingtonâs total state and local revenue. It continues to be the most important revenue source for public schools, fire protection, libraries, parks and recreation, and other special-purpose districts.
Using the Name tool, you can define a constant, such as a tax rate, that you frequently use in Excel formulas. Go to Insert | Name | Define and type a nameTaxRate, for example. In the Refers to area, type the constant value and click on OK. For a 7 percent tax rate, you would enter 0.07. Now you can write a formula like =SalePrice*TaxRate and Excel will use the constant value you defined for TaxRate.
Create a named range or a named constant and use these names in your formulas. This way you can make your formulas easier to understand. To create a named range, execute the following steps. 1. Select the range A1:A4. 2. On the Formulas tab, click Define Name. 2. Enter a name, type a value, and click OK. 3. Now you can use this named constant in your formulas. Note: if the tax rate changes, use the Name Manager to edit the name and Excel automatically updates all the formulas that use TaxRate. To edit and delete defined names, execute the following steps. 1. On the Formulas tab, click Name Manager.