How are Taxes Calculated - Tax Rates
Understanding assessed values & your property taxes
The City completed a reassessment for 2023 and properties have had new assessed values established based on their market value as of April 1, 2021. An assessment increase for 2023 does not mean an equivalent increase in 2023 property taxes.
Learn more about how a change in your assessed value may impact your property taxes.
Property Tax - Mill Rates
Property taxes are calculated by applying municipal and school mill rates against the portioned assessment of your property. By definition, a mill is a one-thousandth part. For calculating taxes, one mill represents $1.00 of taxes for every $1,000.00 of portioned assessment.
Example:
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Last update:
April 11, 2024