Assuming the market value of your home, which is your primary residence, is $100,000, your tax bill for a "1 mill" levy is calculated as shown below.
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Sample of the effect of a 1.00 mill tax on a $100,000 home's tax bill |
|
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$100,000 |
Market value of your home |
|
$35,000 |
Assessed value of your home (35% of $100,000) |
|
$35.00 |
Gross taxes of 1.00 mill ($1.00/$$1,000 assessed value) |
|
- $3.50 |
* State of Ohio 10% Rollback |
|
-$0.88 |
* State pays an additional 2.5% as an exemption for the primary residence |
|
$30.62 |
Net taxes for 1.00 mill levy |
| * If the levy is a new or replacement levy after 2013, the 10% and 2.5% rollbacks do not apply since the State of Ohio will no longer give the rebate for these levies. | |