Calculating Your Real Estate Tax

Sample Calculation

Auditor's Market (100%0 Value
100,00.00
Multiply by 35%

0.35

Equals taxable value
35,000.00
 
 
Taxable value
35,000.00
Multiply by effective tax rate
0.049479438      
Gross full year tax
1,731.78


Divide by 2 (equals half year tax)
1,731.78/2 = 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.
  • File an application for exemption with the Auditor by the first Monday in June. (Applications are available thru the Auditor's office)