Residential Property Tax Calculation Examples |
| Tax Calculation on a residential property without a Military Exemption or Homestead Credit |
* Assessed Value |
is | $ 95,000.00 |
** Roll Back Factor |
x | 0.588284 |
Taxable Value |
= | $ 55,887.00 |
*** Levy |
x | 0.03070727 |
Taxes Due |
are | $ 1,716.00 |
Tax Calculation on a residential property with a Homestead Credit |
||
* Assessed Value |
is | $ 95,000.00 |
** Roll Back Factor |
x | 0.588284 |
Taxable Value |
= | $ 55,887.00 |
*** Levy |
x | 0.03070727 |
Gross Taxes Due |
are |
$ 1,716.00 |
Homestead Credit |
- |
$ 149.00 |
Net Taxes Due |
are |
$ 1,567.00 |
Homestead Calculation = $4850.00 x Levy |
||
Tax Calculation on a residential property with a Military Exemption and a Homestead Credit |
||
* Assessed Value |
is |
$ 95,000.00 |
** Roll Back Factor |
x | 0.588284 |
Net Assessed Value |
= | $55,887.00 |
Military Exemption |
- | $1852.00 |
Taxable Value |
= | $54,035.00 |
*** Levy |
x | 0.03070727 |
Gross Taxes Due |
= | $ 1,659.00 |
Homestead Credit |
- | $ 149.00 |
Net Taxes Due |
= | $ 1,510.00 |
| *Set by the assessor (Revalue's every two years) |
| **Factor set by State of Iowa (Changes every year) |
| ***Set by the County to meet Budgetary needs of all taxing entities (Changes every year) |