Tax Math Formulas Flashcards
1
Q
Appraised Value ($340,000) x Assessment Ratio (35% or .35) = $119000 (Assessed Value)
$119000/1000 = 119 119 x 51.7 (Mill Rate) = 6152.30
A
Annual Taxes Formula
2
Q
$1260 (Semi Annual Taxes) x 2 = $2520 (Annual Taxes)/48 (Mill Rate) = 52.5 x 1000=$52,500
A
Assessed Value Formula
