Calculating your Property Tax

Assessed Value = Just Value - Assessment Limits

Taxable Value = Assessed Value - Exemptions

Total Tax Liability = Taxable Value x Millage Rate 

Example: Assume a homestead has a just value of $300,000, an accumulated $40,000 in Save Our Homes (SOH) protections, and a homestead exemption of $25,000 plus the additional $25,000 on non-school taxes.

The millage is seven mills for county schools and 11 mills for all non-school taxing authorities combined (city, county, and special districts).

$300,000 (Just Value) - $40,000 (Accumulated SOH) = $260,000 (Assessed Value)

School Taxes

$260,000 (Assessed Value) - $25,000 (Exemption) = $235,000 (Taxable Value) x .007 (Millage) = $1,645 (Tax Liability)

Non-School Taxes

$260,000 (Assessed Value) - $50,000 (Exemption) = $210,000 (Taxable Value) x .011 (Millage) = $2,310 (Tax Liability)

Total Taxes (School Tax Liability + Non-School Tax Liability) = $3,955 ($1,645 + $2,310)

More information is available on our Exemptions page.