Property Taxes
Tax Levies & Assessed Values

There are a number of different taxing districts in a jurisdiction, each with a different levy. Each year the County Auditor determines for that district a levy that will yield enough money to pay for schools, police and fire protection, road maintenance and other services budgeted for in that area. The tax levy is applied to each $1,000 of a property's Taxable Value. The value determined by the Assessor is the Assessed Value and is the value indicated on the assessment roll. The Taxable Value is the value determined by the auditor after application of state-ordered "rollback" percentages for the various classes of property and is the value indicated on the tax statement. When comparing the value of your property with other properties, always compare with the value on the assessment roll or the assessors property record cards and not the value indicated on the tax statement.

Example:


   $100,000      -Assessed Value (Residential Class)

x   0.45996      -Roll Back percentage (2005)
      $45,996      -Roll Back value (taxable)

-      $1,852      -military exemption (if applicable)
      $44,144      -Net Taxable Value

x  0.3960742     -Levy $ per thousand (varies with taxing district)

$ 1,748.43
-  $ 147.91         -Homestead Credit at 77% level of funding
 ((4,850 x  levy) x77% Homestead Credit level of funding)

  $  1,600          - Final Property Taxes rounded to nearest even dollar


Property Tax Flow Chart




Increases in assessed value of individual parcels of property as determined by the assessor, may exceed four percent within a jurisdiction. Agricultural property, except agricultural dwellings, are assessed on the basis of productivity and net earning capacity using a five-year crop average and capitalized at a rate set by the Legislature. The rate is currently seven percent. Tentative and final equalization orders are issued by the Director of Revenue in odd numbered years on or about August 15th, and October 1st respectively. The orders are sent to the various county auditors who apply them to the classes of property affected, if any.