Knowledge Base

How will my taxes change as a result of the new assessment?

Category: Assessing
Although the value of your property affects your share of taxes, the actual amount you pay is determined by the budget needs of the City and Schools. These will decide what services will be provided in the coming year and how much will be needed to provide these services. Once this decision is made, a tax rate is adopted that will generate the needed tax dollars.

Your property taxes are determined by multiplying the tax rate by your assessment (divided by $1,000 as tax rates are stated per thousand of value). Equation: Tax Rate x Assessed Value/1000 = Taxes
Updated 7/25/2016 12:33 PM
Was this page helpful? Yes No
Thanks for your feedback!