|
Things to Remember
- Assessed value and taxable value are not synonymous terms.
- Property is assessed as of January First.
- Property reassessed every two years.
- Taxes are levied on a value determined by the auditor by applying a "roll
back" percentage to the assessed value and deducting any applicable exemptions
or credits. The "roll back" percentages vary each year.
| Example: |
|
|
| $100,000 |
|
1998 Assessed value (residential class) |
| x 0.564789 |
|
roll back percentage (1998) |
| 56,479 |
|
roll back value (taxable) |
| - 4,850 |
|
Homestead Credit |
| 51,629 |
|
net taxable value |
| x 0.03737058 |
|
levy $37.37058 per thousand (varies with taxing district) |
| $1,930 |
|
property tax (rounded to nearest even whole dollar) |
|