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03.05 Tax Rate Calculation Formula
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08-20-2019 Special City Council Meeting
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03.05 Tax Rate Calculation Formula
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8/15/2019 8:20:28 AM
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8/15/2019 8:20:27 AM
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• ' • • � <br /> � � � � � � � � � <br /> Estimated market value <br /> minus homestead <br /> exclusion and exempt <br /> properties = Taxable <br /> Market Value (TMV) <br /> � <br /> City tax levy ($1,833,830) TMV multiplied by State <br /> divided by NTC classification rates = Tax <br /> ($3,197,944) = City Tax <br /> o Capacity (TC) <br /> Rate (57.344/) <br /> � � <br /> TC minus TIF districts ($0) _ <br /> Net Tax Capacity (NTC) <br /> ♦ <br />
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