How do I calculate property taxes?

To calculate annual taxes for a property, the taxable value is multiplied by the Mill Levy. 

Market Value 100,000 

Assessed Value (50% of Market Value) 50,000 

Taxable Value (Assessed Value Multiplied by 9% residential tax rate) 4,500

Annual Tax (Taxable Value multiplied by the *Mill Levy) 1,025

*Note: 2019 Mill Levy - .23659 (236.59 divided by 1,000) 

The mill levy is subject to change annually. 

The tax rates are 9% for residential property and 10% for commercial property.

Show All Answers

1. What is Market Value, Assessed Value, and Taxable Value?
2. Who performs the appraisals?
3. What is the purpose of an on-site review?
4. What is the benefit of having an on-site review performed?
5. Why do my property taxes sometimes change?
6. When do any changes take effect?
7. How do I calculate property taxes?
8. What is the mill levy?