(This is a simplified example for demonstration purposes.)
Renewal Levy | Replacement Levy | Difference | |
2000 market value of the property | $100,000 | $100,000 | $0 |
Millage | 0.4978 mill | 1.00 mill | 0.5022 |
Gross taxes annually | $17.42 | $35.00 | $17.58 |
Net taxes annually | $15.24 | $30.62 | $15.38 |