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Doreen's property has a portioned assessed value of $180 000 and the property has a frontage of 50 feet. The municipal mill rate is 16.120 and the education.

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Presentation on theme: "Doreen's property has a portioned assessed value of $180 000 and the property has a frontage of 50 feet. The municipal mill rate is 16.120 and the education."— Presentation transcript:

1 Doreen's property has a portioned assessed value of $180 000 and the property has a frontage of 50 feet. The municipal mill rate is 16.120 and the education mill rate is 12.450. Doreen's property will be assessed a local improvement tax of $5.50 per foot for street lighting. Calculate Doreen's total annual tax bill.

2 Doreen's property has a portioned assessed value of $180 000 and the property has a frontage of 50 feet. The municipal mill rate is 16.120 and the education mill rate is 12.450. Doreen's property will be assessed a local improvement tax of $5.50 per foot for street lighting. Calculate Doreen's total annual tax bill.

3 Municipal taxes Doreen's property has a portioned assessed value of $180 000 and the property has a frontage of 50 feet. The municipal mill rate is 16.120 and the education mill rate is 12.450. Doreen's property will be assessed a local improvement tax of $5.50 per foot for street lighting. Municipal taxes = $180 000/1000 x 16.120 = $2901.60

4 Education Taxes Doreen's property has a portioned assessed value of $180 000 and the property has a frontage of 50 feet. The municipal mill rate is 16.120 and the education mill rate is 12.450. Doreen's property will be assessed a local improvement tax of $5.50 per foot for street lighting. Education Taxes = $180 000/1000 x 12.450 = $2241.00

5 Local Improvement Taxes Doreen's property has a portioned assessed value of $180 000 and the property has a frontage of 50 feet. The municipal mill rate is 16.120 and the education mill rate is 12.450. Doreen's property will be assessed a local improvement tax of $5.50 per foot for street lighting. Local Improvement Taxes = 50 feet x $5.50/foot = $275.00

6 Total Annual Tax Bill = $2901.60 + $2241.00 + $275.00 = $5417.60 Municipal Taxes Education Taxes Local Improvement Taxes


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