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Sample of How Taxes are Calculated

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View a Sample of how Taxes are Calculated
How To Calculate Your Estimated Net Tax 

Tax Example with No Credits

 STEP-BY-STEP INSTRUCTIONS: CALCULATION
1) Enter your assessed value $100,000
2) Enter the rollback* x0.455893
3) Multiply line 1 by line 2 (Equals your gross taxable value) $45,589
4) Enter the tax levy for your tax district ** x0.04147061
5) Multiply line 3 by line 4 $1,890

 
Equals the Estimated Net Property Tax (rounded to the nearest whole even dollar)
Example with Homestead Credit

 STEP-BY-STEP INSTRUCTIONS: CALCULATION
1) Enter your assessed value $100,000
2) Enter the rollback * x0.455893
3) Multiply line 1 by line 2 (Equals your gross taxable value) $45,589
4) Subtract Homestead Credit -$4,850
5) Equals your Net Taxable Value $40,739
6) Enter the tax levy for you tax district ** x0.04147061
7) Multiply line 5 by line 6 $1,689

 
Equals the Estimated Net Property Tax (rounded to the nearest whole even dollar)
Example with Homestead & Military Credit

 STEP-BY-STEP INSTRUCTIONS: CALCULATION  
1) Enter your assessed value $100,000
2) Enter the rollback * x0.455893
3) Multiply line 1 by line 2 (Equals your gross taxable value) $45,589
4) Subtract Military Credit *** -$1,852
5) Subtract Homestead Credit -$4,850
6) Equals your Net Taxable Value $38,887
7) Enter the tax levy for your tax district ** x0.04147061
8) Multiply line 6 by line 7 $1,612

Equals the Estimated Net Property Tax (rounded to the nearest whole even dollar)

* State Rollback-Residential Class is rounded to the nearest $10.
** Tax levy $41.47061 per thousand dollars of value varies with each taxing district.
*** Military Credit =
Enter $1,852 for any war or military action after WWI.
Enter $2,778 if you served in WWI