How is the Actual Amount of Property Taxes I Owe Determined?
The annual property tax a homeowner owes is based on two factors:
1) the property’s “Assessed Valuation” (as determined by the Jefferson County Assessor)
2) the total number of mills assessed by all taxing entities (“mill levy”)
Annual Property Tax = Property Assessed Valuation divided by 1,000 then multiplied by the total mill assessment
1) the property’s “Assessed Valuation” (as determined by the Jefferson County Assessor)
2) the total number of mills assessed by all taxing entities (“mill levy”)
Annual Property Tax = Property Assessed Valuation divided by 1,000 then multiplied by the total mill assessment
