How are Real Estate taxes calculated?

  • Multiply the Appraised value by the Assessment Rate percentage for your property: Appraised value X Assessment Rate % = Assessed value

Multiply the Assessed value by your Mill Levy and then divide by 1,000 to estimate the property tax you owe:

Assessed value X Mill Levy/1,000 = Taxes**


  • The formula for calculating Residential Real Estate properties is as follows:

Appraised value x 11.5% = Assessed value

Assessed value x Mill Levy/1000 - $46.00*= Taxes**


* Residential properties receive a credit on the first $20,000 of assessment on the general portion of the school mill levy. This calculates to $46.00 per property.

** This will not include any Specials that might be assessed such as sidewalks, streets, etc.


A mill is a monetary unit equal to 1/1000 of a US dollar.  One mill on a $1,000 assessed value will raise $1.00 in taxes.

The mill levies for each local taxing authority are computed by dividing the portion of the taxing authority’s budget that is property tax funded by the taxable assessed value in the taxing authority’s service area.