Two things determine the amount of your property tax bill:
- The tax rates of the taxing jurisdictions in which your property is located.
- The property's assessed value. The tax rate is determined by the amount of the tax levy to be raised from all, or part, of a taxing district and the district's taxable assessed value. The assessment is determined by the assessor and is based on the estimated market value of your property less any applicable property tax exemptions.
Each year after the total assessed value is set, the assessor calculates tax rates based on taxing district budget requests which are regulated by statutory limits. Each taxing district in the county sends its approved budget to the assessor. The assessor uses the budget request and the total value of all taxable properties in the district to calculate a tax rate.
The rate is expressed in dollars per each thousand dollars of property value. The tax rate of each district is combined with the rates of other districts to get the total rate. From this the assessor can easily determine the total tax you owe for support of schools, special service districts, and local governments.