How do I estimate my taxes?

The taxable value (assessed value) of your property is a percentage of its actual value. For residential improved property (residential property with a livable improvement on it) that percentage is 7.15% (or .0715). For all other real and personal property, the percentage is 29% (or .29). The State Legislature is responsible for setting these percentages and does so each reappraisal or odd-numbered year; i.e., 2017, 2019, 2021.

Follow these simple steps to compute your taxes:

1. Actual Value X Assessment Percentage = Assessed Value

2. Assessed Value X Mill Levy = Estimated Taxes

For Instance: The Actual Value of your improved residential property is: $ 400,000 The residential assessment percentage is x .0715 So, your Assessed Value is: $ 28,600 The Mill Levy of your Tax Area is: x .04294 So, your estimated taxes are: $ 1,228.00

Show All Answers

1. How do I estimate my taxes?
2. How do I find out what my Tax Area is?
3. How do I find out what the Mill Levy is for the location of my property?
4. By whom are the Mill Levies set and when are they set?
5. To whom do I pay my taxes?
6. I have a question about my taxes. Who do I call?
7. When do I get my tax bill?
8. What’s the deadline for paying my taxes?