Taxes on Average Residence
First, the taxable value of the home is determined:
| Appraised Value | $ 135,810 |
|---|---|
| State Exemption | -15000 |
| Taxable Value | $120,810 |
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 1,208.10 |
| Total School Taxes for 2007 | $1,514.11 |
The School Taxes on the comparable home a year ago would have been $1,828.16(actual)
Tax levy decrease for this home between 2006-07 and 2007-08 is $314.05