How to Read and Understand Your Property Tax Bill

 

1. BILL NO.: Providing your bill number will help to quickly locate your account information.  8. MILLAGE RATE: A figure applied to the taxable value of your property to calculate your property tax liability. This rate is set by each levying authority. 
2. DUE DATE: The last day to pay or postmark your payment without additional fees being applied  9. PENALTY/INTEREST/OTHER FEES/ PREVIOUS PAYMENTS/ BACK TAXES: any uncollected delinquent amounts and/or payments already received. 
3. TOTAL DUE: The current year and any unpaid mounts for previous years.  10. EXEMPTIONS: Indicates the value of the property that is exempt from taxation for each taxing authority. 
4. LOCATION: The physical address of the property.  11. NET ASSESSMENT: This is 40% of the fair market value. 
5. TAX PAYER: The owner of the property as it appears on the recorded deed.  12. FAIR MARKET VALUE: The approximate price the property would sell for on the open market. 
6. MAP CODE: A unique identifier assigned to each tract of land by the Tax Assessors Office  13. TAXPAYER MAILING ADDRESS: Please verify your mailing address is correct and notify us in writing if changes are necessary.  
7. EXEMPTIONS: Indicates if the owner has applied, and is qualified for, any reduction in property taxes.