Taxes on Average Residence
First, the taxable value of the home is determined:
| Appraised Value | $ 133,775 |
|---|---|
| State Exemption | -15,000 |
| Taxable Value | $118,775 |
The taxable value is then used to calculate the school taxes on this home:
| Tax Rate per $100/valuation | $1.2533 |
|---|---|
| $100/valuation of $120,810 taxable value on "average" home | X 1,187.75 |
| Total School Taxes for 2009 | $1,488.61 |
The School Taxes on the comparable home a year ago would have been $1,488.61(actual)
Tax levy decrease for this home between 2008-09 and 2009-10 is $0.00.