computing property tax increase millages. what is a mill? 1 mill = $1.00 for every $1,000 of...

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COMPUTING PROPERTY TAX INCREASE MILLAGES

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Page 1: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

COMPUTING PROPERTY TAX INCREASE

MILLAGES

Page 2: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

What Is a Mill?

1 mill = $1.00 for every $1,000 of assessed valuation.

Page 3: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

County Children Services

Issue 2 - Greene County Children Services Board Renewal – Operating1.5 mills – five yearsCommencing 2014

Total Votes 21588FOR THE TAX LEVY 14527 67.29%AGAINST THE TAX LEVY 7061 32.71%

Page 4: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Greene County Developmental Disabilities

Issue 3 - Greene County Developmental Disabilities BoardRenewal – Operating3.5 mills – five yearsCommencing 2014

Total Votes 21561FOR THE TAX LEVY 13897 64.45%AGAINST THE TAX LEVY 7664 35.55%

Page 5: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Greene Memorial Hospital

Issue 4 - Greene County Greene Memorial HospitalRenewal – Operating0.5 mill – five yearsCommencing 2014

Total Votes 21635FOR THE TAX LEVY 12883 59.55%AGAINST THE TAX LEVY 8752 40.45%

Page 6: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Issue 5 - City of BeavercreekRenewal – Operating1 mill – five yearsCommencing 2013

Total Votes 8786FOR THE TAX LEVY 6282 71.50%AGAINST THE TAX LEVY 2504 28.50%

Page 7: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Beavercreek City Schools Levy

School Levy 2013Issue 19

School Levy 2012 Issue 20

Beavercreek City School District (additional) A majority affirmative vote is necessary for passage. Shall a levy be imposed by the Beavercreek City

School District, Counties of Greene and Montgomery, Ohio, for the purpose of providing for the emergency requirements of the school district, providing for the emergency requirements of the school district, in the sum of $10,400,000 per year, and a levy of taxes to be made outside of the ten- mill limitation estimated by the county auditor to

average 6.3 mills for each one dollar of valuation, which amounts to $0.63 for each one hundred dollars of valuation, for 5 years, commencing in 2013, first due in calendar year 2014?

Total Votes 8786 FOR THE TAX LEVY 6282

71.50% AGAINST THE TAX LEVY

2504 28.50%

Beavercreek City School District (additional) A majority affirmative vote is necessary for passage. Shall a levy be imposed by the Beavercreek City School District, Counties of Greene and Montgomery, Ohio, for the purpose of providing for the emergency requirements of the school district, in the sum of $10,900,000, and a levy of taxes to be made outside of the ten-mill limitation estimated by the county auditor to average 6.7 mills for each dollar of valuation, which amounts to $0.67 for each one hundred dollars of valuation, for 5 years, commencing in 2012, first due in calendar year 2013?

Page 8: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Beavercreek Bond Issue 2008

16) Beavercreek City School District Bond Issue$84,000,000- 28 years3.3 mills- Commencing 2008

Page 9: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Market Value of Home

$100,000

Page 10: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Assessment Rate

____$100,000__________ X .35

Page 11: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Assessed Value

_____$35,000___________

Page 12: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Millages

_____$35,000____ X ______.005_______ (assessed value) (millages) 5 mills

Page 13: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Cost Before Rollback

________$175__________________

Page 14: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Rollback

___$175______ - ___$21.88________ (levy before rollback) (rollback) 12.5%

175 x.125_____$21.88

Page 15: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Annual Cost of Levy

_______$153.12__________________

175.00 - 21.88 $153.12

Page 16: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Greene County Auditor

Page 17: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

$5,606,230 valuation$3,900,000 valuation - today

Page 18: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

$1,170,440 valuation$1,136,120 valuation - today

Page 19: COMPUTING PROPERTY TAX INCREASE MILLAGES. What Is a Mill? 1 mill = $1.00 for every $1,000 of assessed valuation

Arnold’s