Taxes
Computing Your Tax bill
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How to Compute Your Tax Bill

This example assumes your home has a fair market value of $100,000.

PROPERTY TAX COMPUTATION EXAMPLE
Market value x 35% = assessed value $100,000 x .35 = $35,000
Assessed value x full rate= gross tax $35,000 x .06942 = $2,429.70
Gross tax x reduction factor= tax credit    $2429.70 x .3538600 = $859.77
Gross tax - tax credit= tax before credits  $2,429.70-$859.77 = $1,569.93
Tax before credits x 10%= 10% tax credit $1,569.93 x .10 = $156.99
Tax before credits x .025= 2 1/2% credit $1569.93 x .025 = $39.25
Tax before credits-(10% + 21/2%) = Net Tax $1,569.93-$156.99-$39.25=$1,373.69
Net tax charged divided by 2 = Half Tax  $1,373.69/2 = $686.85

                    
 (Bucyrus City tax rate used for this example.  This example assumes no special assessments
 and is based on an “owner occupied” residential property.  Additional homestead exemption
 credit could apply if over 65 or totally disabled.)

JOAN M. WOLFE
CRAWFORD COUNTY AUDITOR

Download: Tax Rates 2015


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