In 2019, the market value of a property in Hillsborough county, Florida was 410,000, the assessed value was 307500 dollars, and the total millage rate was 18.2230. If the property received no exemption in 2019, what is the total ad valorem taxes?
Enter 410,000 in the field that says to enter the market value of the property.
Now, you need to compute the assessed value as a percent. Just divide 307500 by 410000.
307500/410000 = 0.75 = 75%
Enter 75 in the field that says to enter the assessed value of the property. Do not enter the % sign!
The millage is 18.2230 and 18.2230 is the amount for every 1000 dollars. We need to convert this to a percent first. The percent amount is 1.82230%
Just enter 1.82230 in the field that says to enter the tax rate.
Once you do that, hit the button named calculate and the answer will display.
Ouch! It seems like one needs to do a little bit of math to use this property tax calculator. Well, here is a property tax calculator where all you need to do is to enter the assessed value and it will estimate your tax based on average county tax rate. Be careful tough with this calculator! I used it to estimate my property tax and the number was off by about 1500 dollars.