How are the taxes determined on my property?

Your property taxes are based on the property value established by the Jefferson County Assessor and the total mill levies for the taxing authorities that provide public services.

The assessor establishes the value of all property for tax purposes. Taxing authorities use the assessed value to determine their mill levies. A mill is 1/10 of one cent, or $1 of revenue for each $1,000 of assessed valuation. You may obtain information about the tax levy by contacting the governing boards of the taxing entities. The actual value, determined by the assessor, is multiplied by a rate set by the legislature to arrive at an assessed value. The actual tax amount due is calculated by multiplying the assessed value by the tax mill levy for each taxing authority within the tax district.

Sample tax calculation:

  • Actual Value x Assessment Rate = Assessed Value
  • Assessed Value x Mill Levy = Taxes

Example Using a $300,000 Residence and 100 Mills Levy

  • $300,000 X 7.15% = $21,450
  • $21,450 X 0.100 = $2,145.00 total taxes

If the total mill levy is 100 mills and using the residential assessment rate of 7.15% and a non-residential assessment rate of 29%, annual taxes would be:

  • For residential property - $7.15 per $1,000 of value.
  • For non-residential property - $29 per $1,000 of value.

However, taxes for like-valued properties will vary based on the specific mill levy for the tax district where the property is located.

Show All Answers

1. How are the taxes determined on my property?
2. When are current year taxes due?
3. Do you accept postmarks?
4. What are my payment options?
5. What if I do not get a bill?
6. Why didn't I get a tax bill?
7. What if my mailing address changes?
8. What is the fee if my current year tax payment is late?
9. I just bought this property. Why am I being billed for last year's taxes?
10. When I buy property, how do I know the tax status?
11. After buying a new property, will I receive the next tax statement?
12. What if a mortgage company pays my taxes?
13. What if you receive payments from several parties?
14. What if I am unable to pay my property taxes?
15. What do you mean by real and personal property?