After each taxing entity has set its mill levy, the taxing entity mill levy is combined with the mill levy for all other taxing entities for the property to create the overall mill levy for that property. Where you live within the county determines the taxing entities to which you will pay your taxes.
Mr. Smith’s home is provided services by four taxing entities. His total assessed value is determined to be $18,000.
- County Mill Levy 23.3320
- School District Mill Levy 47.0750
- City Mill Levy 4.3100
- Urban Drainage Flood District Mill Levy .9000
- Urban Drainage South Platte Mill Levy .0970
- Fire Protection District Mill Levy 14.9250
- Total Mill Levy 90.6390
Each mill is 1/1,000 of a dollar, so the mill levy per dollar of assessed value is: 90.1650/1,000 = .090639
This means Mr. Smith’s tax bill is calculated as follows:
- Assessed Value x Tax Rate = Property Taxes
- $18,000 x .090639 = $1,631.50