Estimating Your Taxes
If the tax rate in your community has been established at 1.20% (1% base rate plus .20% for prior indebtedness) the property tax would be calculated as follows:
| Assessed value | $250,000 |
| Because the rate is 1.20% of assessed value, | |
| Multiply the rate times the assessed value | X .0120 |
| Tax Amount: | $3,000 |
The tax amount may be adjusted for any special benefit assessments, such as sewer service charges, or reduced by any legal exemption which may apply.