How to Calculate Your Taxes
Taxable Assessment x Mill Rate x Mill Rate Factor
1000
Step 1: Base Tax Amount
There is a base tax of $300.00 applied to all residential properties.
There is a base tax of $650.00 applied to all commercial properties.
Step 2: Municipal Tax
The Municipal Mill Rate is 4.0 mills. The Mill Rate Factors are as follows:
| Residential | 0.930 |
| Commercial | 1.346 |
Step 3: School Tax
School Mill Rates are as follows. There is no Mill Rate Factor.
| Residential | 5.03 |
| Commercial | 8.28 |
Note: If paid by September 30, 2015, a 5% discount will be applied to Municipal taxes only.
Example 1: Residential Property with taxable assessment of $186,600.00
Step 1: $300.00
Step 2: $186,600 x 4.0 x .930 = $694.15
1000
Step 3: $186,600 x 5.03 = $938.59
1000
Total Tax Levy: $300 + $694.15 + $938.59 = $1932.74
Example 1: Commercial Property with taxable assessment of $549,700.00
Step 1: $650.00
Step 2: $549,700 x 4.0 x 1.346 = $2,959.58
1000
Step 3: $549,700 x 8.28 = $4551.51
1000
Total Tax Levy: $650 + $2,959.58 + $4551.51 = $8,161.09