- Property Taxes
- Property Tax Calculation
Property Tax Calculation
Your property taxes are determined by multiplying the actual value times the assessment rate times the mill levy. The assessment rate on residential properties is 11.5%. The assessment rate for commercial and industrial purpose is 25%. The assessment rate is fixed by law and is the same statewide.
- Let's assume the market value of your home has been determined to be $60,000 and the statewide residential assessment rate is 11.5%. This would mean the assessed value of your home would be $6,900 ($60,000 X .115 = $6,900).
- Let's also assume the total mill levy determined by the local taxing authorities, your particular taxing district has been set to 125.000 mills.
- Multiply the assessed value of your property ($6,900) by the mill levy (125 mills or .125). The taxes on your home would be $862.50, which is your share of the total responsibility to support the programs for which the taxes are budgeted.
- Actual Market Value ($60,000) X .115 (State Residential Assessment Fee) = $6,900 (Assessment value)
- Assessed Value ($6,900) X .125 (Mill Levy) = $862.50 (Tax Amount)
View Harper County's Tax Unit map.
|Property Type||Assessment Rate||Class: Rural or Urban|
|Residential – Includes homes, apartments, and condominiums||11.5 %||R|
|Commercial – Real property used for commercial or industrial purposes||25%||C|
|Residences on farm homesteads||11.5%||F|
|Agriculture Land – Land used to develop agricultural use||30%||A|
|Agriculture Improvements – Improvements on land devoted to agricultural use||25%||A|
|Vacant Lots – Vacant land with no improvements||12%||V|
|Non-Profit – Real property owned and operated by not-for-profit organizations||12%||N|
|Tax exempt property||0%||E|
|All Others – Rural and urban real property not elsewhere classified||30%||O|