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22 December, 20:57

Davis owns a property with a market value of $144,000. The county assessment for the property is 40% of its appraised value. What will a 4.3 mill special assessment tax levy cost Davis annually?

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  1. 22 December, 21:53
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    special assessment tax levy cost = $247.68

    Explanation:

    given data

    market value = $144,000

    assessment ratio = 40%

    levy cost = 4.3 mill

    solution

    we first get here assessed value that is express as

    assessed value = market value * assessment ratio ... 1

    put here value we get

    assessed value = $144,000 * 40%

    assessed value = $57,600

    so now we get special assessment tax levy cost

    special assessment tax levy cost = assessed value * levy cost

    special assessment tax levy cost = $57,600 * 0.0043

    special assessment tax levy cost = $247.68
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