Laserfiche WebLink
o <br /> <br />What factors affect my property taxes? <br /> There are several items that affect your taxes. <br /> - Changes to the tax levy (spending decisions) made by the city, <br /> County, school district, or special taxing districts <br /> <br />Changes to the market value of your property. <br />Legislative changes to the property classification rates, state aid <br />formulas and other tax laws. <br /> <br />- New taxes approved by a voter referendum- such as the passing <br /> of a school bond levy. <br /> <br />Who determines my property tax? <br /> There are three entities that determine your property tax. <br /> 1. The State Legislature establishes property classes and class <br /> Rates, determines levels of state aid to local units of <br /> government, sets the amount of homestead credit, and sets the <br /> state general tax rate. <br /> <br />2. Local units of government determine their tax levy amount. <br /> <br />3. The county assessor assigns each property a market value and <br /> property classification as provided by the state statute. <br /> <br />What is fiscal disparities? <br /> Fiscal disparities is a tax base sharing program created in 1971 in the <br /> seven county metropolitan area to promote better regional planning and <br /> improve equity in the distribution of fiscal resources. Forty percent of the <br /> growth in commercial and industrial property is shared with all taxing <br /> jurisdictions in the seven county metropolitan area. <br /> <br />Public Hearing - December 5, 2005 <br /> <br /> <br />