How to- options select

Is this code right for selecting options to PHP? Thanks.
[B]

<HTML><HEAD><body>
<FORM name=Form action="getpercent.php" method=post>
<B><center>
Select state for tax rate <SELECT name=taxrate>
<OPTION class=highlight value=0.04000 selected>0.04000 - Alabama
<OPTION class=highlight value=0.00000>0.00000 - ALASKA
</SELECT><p>
<CENTER><INPUT type=submit value="submit data"></CENTER>
</FORM></B></BODY></HTML>

[/B]

getpercent
[B]

<?php
mysql_connect('localhost','root','');
mysql_select_db('numbersdb') or die( "Unable to select database");
$query = "SELECT taxrate FROM numbdata ";
mysql_fetch_assoc(mysql_query($query));
$taxrate = $result['taxrate'];
mysql_close();
?>

[/B]

Your PHP code is selecting a value from a database. since your form has method=post to get what was selected from that form when submitted


<?php
$taxrate = $_POST['taxrate'];