| Auditor's Market (100%0 Value |
100,00.00 |
|
| Multiply by 35% |
.35
|
|
| Equals taxable value |
35,000.00 |
|
| |
|
|
| Taxable value |
35,000.00 |
|
| Multiply by effective tax rate |
.049479438
|
|
| Gross full year tax |
1,731.78 |
1731.78/2=865.89 |
| |
|
|
| |
|
|
| Divide by 2 (equals half year tax) |
865.89 |
|
| Multiply by 10% rollback |
-86.59 |
|
| Multiply by 2.5% homestead rollback |
-21.65 |
|
| Minus homestead exemption **(if applicable) |
N/A
|
|
| Equals the half year net tax |
757.65 |
|
| |
|
|
| Plus any special assessments (if applicable) |
N/A |
|
| Equals half tax due |
757.65 |
|
| |
|
|
| To qualify for the 2.5% homestead rollback, the owner
of the property must reside in the home. |
|
|
| To qualify for the homestead exemption, the following
criteria must be met: |
|
|
- 65 or older or permanently disabled and you must
own and live in the residence receiving the exemption.
- Be a surviving spouse between 59-64 whose
property was already receiving the exemption.
- Have a 2005 income of $25,400 or less.
- File an application for exemption with the
Auditor by the first Monday in June. (Applications are available
thru the Auditor's office)
|
