Property Taxes

Tax Levies & Assessed Values

There are a number of different taxing districts in a jurisdiction, each with a different levy. Each year the County Auditor determines for that district a levy that will yield enough money to pay for schools, police and fire protection, road maintenance, and other services budgeted for in that area. The tax levy is applied to each $1,000 of a property's Taxable Value. The value determined by the Assessor is the Assessed Value and is the value indicated on the assessment roll. The Taxable Value is the value determined by the auditor after application of state-ordered "rollback" percentages for the various classes of property and is the value indicated on the tax statement. When comparing the value of your property with other properties, always compare with the value on the assessment roll or the assessor's property record cards and not the value indicated on the tax statement.

Example:

  $100,000  Assessed Value (Residential Class)
x 0.45996  Roll Back percentage (2005)
$45,996  Roll Back value  (taxable
- $1,852  Military exemption  (if applicable)
$44,144   Net Taxable Value
x 0.3960742   Levy $ per thousand (varies with taxing district)
= $ 1,748.43
- $147.91  Homestead Credit at 77% level of funding)
((4,850 x levy) x77%   Homestead Credit level of funding)

= $1,600   Final Property Taxes rounded to nearest even dollar)