How to Calculate Taxes

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