Knowledge Base

Although the value of your property affects your share of taxes, the actual amount you pay is determined by the budgetary needs of the city. This is decided by what services will be provided in the coming year and how much money will be needed to provide these services. Once this decision is made, a tax rate is adopted that will generate the needed dollars. Your property taxes are then determined by multiplying the tax rate by your assessment. The tax rate is expressed as dollars per thousand dollars of value. Tax Rate x Assessed Value = Taxes