How To Calculate Your Estimated Net Tax
The calculations below are for EXAMPLE only. Rollbacks and levy rates change periodically.
Tax Example with No Credits
| Step By Step Instructions: | Calculation |
|---|---|
| 1) Enter your assessed value | $100,000 |
| 2) Enter the rollback * | x0.548525 |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | $54,850 |
| 4) Enter the tax levy for your tax district ** | x0.04332624 |
| 5) Multiply line 3 by line 4 | $2,376 |
Example with Homestead Credit
| Step By Step Instructions: | Calculation |
|---|---|
| 1) Enter your assessed value | $100,000 |
| 2) Enter the rollback * | x0.548525 |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | $54,850 |
| 4) Subtract Homestead Credit | -$123.00 |
| 5) Equals your Net Taxable Value | $54727.00 |
| 6) Enter the tax levy for you tax district ** | x0.04332624 |
| 7) Multiply line 5 by line 6 | $2,371.00 |
Example with Homestead & Military Credit
Equals the Estimated Net Property Tax (rounded to the nearest whole even dollar)
| Step By Step Instructions: | Calculation |
|---|---|
| 1) Enter your assessed value | $100,000 |
| 2) Enter the rollback * | x0.548525 |
| 3) Multiply line 1 by line 2 (Equals your gross taxable value) | $54,850 |
| 4) Subtract Military Credit *** | -$1,852 |
| 5) Subtract Homestead Credit | -$123.00 |
| 6) Equals your Net Taxable Value | $52875.00 |
| 7) Enter the tax levy for your tax district ** | x0.04332624 |
| 8) Multiply line 6 by line 7 | $2291.00 |
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 $43.32624 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