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�'�� UEPARTMENT <br />OF REVENUE <br />How value changes affect taxes <br />The examples below are based on a fictional town consisting of four residential non-homestead houses that are not <br />subject to any deferrals, exclusions, or reductions. The small tax base is used to illustrate how value changes may <br />affect taxes for each house. As the tax base becomes larger, value changes will not affect taxes as dramatically as the <br />examples shown. Even if a value change results in a smaller tax bill for one property owner and an increased burden <br />to be shared by all property in the jurisdiction, any value change will ultimately affect all taxpayers in the <br />jurisdiction. <br />ExamPle 1 <br />Total EMV =$305,f]OD Cless Rate = i% Township Le.ry =$2,OOd Tax Rate = 6b% <br />The val ues and eorresponding share of the tax 6urden for the four proPerties 6efore the meeting of the Local Bnard <br />of Appeal and Equalization. <br />Property A <br />EMV: $40,OQ0 <br />� NTC:$400 <br />Q � Taxes; $264 ��f <br />Property B <br />EMV: $50,000 <br />NTC:$500 � <br />16% Taxes: $330 � o � � <br />Percentage <br />Q 3pq, of Tax � <br />000 00 aif � � <br />Property C Property D � <br />n o m EMV: $9d,400 EMV: 5125,�00 � <br />NTC: $9�0 NTC; $1,25Q � � � <br />Taxes: $S�%4 Taxes: �825 <br />Example 2 <br />Total EMV ="s280,00� Class Rate = 1% Township Levy =$2,000 Tax Rate = 72% <br />The owner of ProPerty D aPPealed the value of his ProPerty. He did no2 Provide any evidence as to why his value <br />should be reduced. The board reduced his value by $25,004.7he exam�le shaws how the chanpe aFFects the share <br />of the tax 6urden for the four ProPerties. <br />Property A ProPerty B <br />EMV: $40,000 EMV; $50,000 <br />� NTC:S400 14% NTC:$500 � <br />�� Tazes: $288 1$% Taxes: $35� � o� o <br />Percentage <br />n 32� of Tax Q <br />361 � � <br />0 0 0 0 o property C Property D � <br />0 o m �nnv: $9a,oao EMV: $100,00a 0�� <br />NTe: S�ao NTC: $1,000 <br />Taxes: $648 Taxes: $720 <br />Example 3 <br />Total EMV =$330,000 Cl�ss Rate = 1/ Township Le�y =$2,000 Tax Rate = 51% <br />The owner of Property D appealed the value of his property. He did not Provide any evidence as to why his value <br />shauld be reduced. The board raised his value by $25,000. The examPle shows how the change aFFects the share of <br />the tax burden for the four proPerties. <br />Property A Pro�erty B <br />EMV: $40,000 EINV: $50,000 <br />NTC:$400 NTC:$500 � <br />� � � Taxes: $244 12� �5� Taxes: $305 � � � <br />Percentage <br />27J of Tax <br />0 <br />� � � � � ProPerty C ,! <br />EMV: �90,000 <br />� � NTC: $900 <br />Taxes: �549 <br />� <br />0 <br />461 � � <br />Pro�erty D � <br />EMV: $150,000 � <br />NTG $1,SOD � O � ` <br />Taxes: �415 <br />