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Treasury and Financial Management

Tax Calculation

Residential Real Estate Property over $20,000 in appraised value

  • Properties valued less than $20,000 receive a school general credit determined by the assessed value and the school general mill rate.
  • Assessed Value * Mill Levy + Non Mill Levy Tax (Special Assessments/Intangibles) - School General Credit = Tax Due
  • Example: 3,162 * .156071 (156.071) + 89.00 - 46.00 = $536.50

Non-Residential Property without any Special Assessments or Intangible Tax

  • Assessed Value * Mill Levy = Tax Due
  • Example: 2,294 * .094783 (94.783) = $217.44

Non-Residential Property with Special Assessments or Intangible Tax

  • Non-residential properties do not receive the school general credit.
  • Assessed Value * Mill Levy + Non Mill Levy Tax (Special Assessments/Intangibles) = Tax Due
  • Example: 5,000 * .116041 (116.041) + 1,068.00 = $1,648.21

*A mill is a monetary unit equal to 1/1000 of a US dollar. One mill on a $1,000 assessed value will raise $1.00 in taxes. A mill levy of 156.071 should be represented by .156071 when using the above calculations.

The Records and Tax Administration computes the mill levies for each local taxing authority by dividing the portion of the taxing authority's budget that is property tax funded by the taxable assessed value in the taxing authority's service area.

For more information on mill levies, please contact the Records and Tax Administration at (913) 715-0775 or visit their website.