Jasz
VIP Contributor
The county assesses property taxes on a calendar year basis. The county assessor's office uses the following formula to calculate the property tax:
Current value of the real estate (in dollars) multiplied by a percentage.
The percentage is based on the amount of improvement value in the property (this is the amount that can be easily determined by an appraiser). This sum is determined using the following formula:
Improvement Value = Amount of Improvement Land + Amount of Improvement Improvements + Amount of Improvements Improvements + Land - Improvements
The improvements are things like walls, floors and windows. This calculation does not include things like trees or shrubs because they are not considered improvements.
A note about sales taxes: The county assessor's office also calculates annual real estate sales tax due for each unit based on the information from your nameplate on your mailbox or inside your home. Since many people do not have their namesplates posted outside their homes, it's recommended that you keep them posted permanently so you will know what you owe in sales tax each year.
Current value of the real estate (in dollars) multiplied by a percentage.
The percentage is based on the amount of improvement value in the property (this is the amount that can be easily determined by an appraiser). This sum is determined using the following formula:
Improvement Value = Amount of Improvement Land + Amount of Improvement Improvements + Amount of Improvements Improvements + Land - Improvements
The improvements are things like walls, floors and windows. This calculation does not include things like trees or shrubs because they are not considered improvements.
A note about sales taxes: The county assessor's office also calculates annual real estate sales tax due for each unit based on the information from your nameplate on your mailbox or inside your home. Since many people do not have their namesplates posted outside their homes, it's recommended that you keep them posted permanently so you will know what you owe in sales tax each year.
