Printer Friendly | BackHow Property Taxes Are Calculated?
The amount of municipal tax payable by a property owner is calculated by multiplying the Mil Rate by the assessed value of a property and dividing by 1000. The assessed value of a property is determined by the Municipal Assessment Agency and the mil rate is set by Council.
For example, if the tax rate was 6 mils, a taxpayer with a property valued at $50,000 would be sent a tax bill for $300.00.
6 x $50,000 = $300.00
1,000
To view your property assessment on-line, click here.
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