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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* | x 46.3428% |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | = $46,342.80 |
| 4) Enter the tax levy for your tax district ** | x 0.04013305 |
| 5) Multiply line 3 by line 4 | = $1,859.88 |
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 * | x 46.3428% |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | = $46,342.80 |
| 4) Subtract Homestead Credit | -$4,850 |
| 5) Equals your Net Taxable Value | = $41,492.80 |
| 6) Enter the tax levy for you tax district ** | x 0.04013305 |
| 7) Multiply line 5 by line 6 | = $1,665.23 |
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 * | x 46.3428% |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | = $46,342.80 |
| 4) Subtract Military Credit *** | -$1,852 |
| 5) Subtract Homestead Credit | -$4,850 |
| 6) Equals your Net Taxable Value | = $39,640.80 |
| 7) Enter the tax levy for your tax district ** | x 0.04013305 |
| 8) Multiply line 6 by line 7 | = $1,590.91 |
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 $1,852 for any war or military action after WWI.
Enter $2,778 if you served in WWI
