The following examples show an individual parcel’s relationship between:
- Assessed Valuation
- Taxable Value
- Levy Rate
- Property Taxes
The following charts show this relationship. (no credits or exemptions are included)
In the agricultural example one can notice the large assessed value changes, assessment limitations (rollback) tempers the taxable value, combine levy rates determines final property taxes.
Residential examples one can see % change in assessed value versus % change in taxes do not always correlate.
These are examples and may not apply to every property: