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How does a 1.622 mill levy increase affect you?

Last week, we talked about understanding your property tax bill and how the County’s portion generally comprises 15-17% of the total.  We outlined how some tax authorities are in effect across the entire County while others cover smaller areas, such as school districts and cities.  The bottom line is that your location determines which taxing authorities show up on your tax bill, which is why total tax rates vary across the County as the various cities, school districts, and other authorities have differing mill levy rates.

Going back to the initial budget blog, we laid out the formula to illustrate the County’s 2015 property tax on a $250,000 home.  The County Manager’s Proposed 2016 Budget was unveiled last week and calls for a 1.622 mill levy increase in order to maintain service levels.   This week, we’d like to calculate the increase for homes at several price-points in order to put the impact in perspective.

To do that, we will use the same formula from the first blog and focus on the increase:

                               Appraised home value
                          x   11.5% assessment rate
                          =   Assessed Value
                          ÷   1,000
                          =   Property tax per mill
                          x   1.622 proposed increase
                          =   Annual impact 
                          ÷  12 
                          =  Monthly impact

$150,000 appraised home
$27.98 annual impact
$2.33 monthly impact

$250,000 appraised home
$46.63 annual impact
$3.89 monthly impact

$500,000 appraised home
$93.27 annual impact
$7.77 monthly impact

To see how you would be impacted by a 1.622 mill levy increase, simply use your appraised home value and the above formula.

On tap for Thursday, June 11: This will be the first of three department budget discussions. They take place the following three Thursdays from as a Committee of the Whole in the BOCC hearing room. The public is invited to attend in person or watch online. This week the BOCC will hear budget presentations from the District Attorney, JIMS, the Elections Office, the County Manager on behalf of all of the departments under his purview, JCDS, Transit and its own BOCC budget.