How Taxes are Calculated
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* | x0.463428 |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | $46,343 |
| 4) Enter the tax levy for your tax district ** | x.04013305 |
| 5) Multiply line 3 by line 4 | $1,860 |
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 * | x0.463428 |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | $46,343 |
| 4) Subtract Homestead Credit | -$4,850 |
| 5) Equals your Net Taxable Value | $41,493 |
| 6) Enter the tax levy for you tax district ** | x.04013305 |
| 7) Multiply line 5 by line 6 | $1,666 |
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 * | x0.463428 |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | $46,343 |
| 4) Subtract Military Credit *** | -$4,000 |
| 5) Subtract Homestead Credit | -$4,850 |
| 6) Equals your Net Taxable Value | $37,493 |
| 7) Enter the tax levy for your tax district ** | x.04013305 |
| 8) Multiply line 6 by line 7 | $1,504 |
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 $40.13305 per thousand dollars of value varies with each taxing district.
*** Military Credit =
Enter $4,000 for any war or military action after WWI.
