$75,000

$100,000

$125,000

$150,000

$175,000

$200,000

Assessed Value (95% of sale price)

LESS: Homestead Exemption

$71,250

($75,000 exempt)

$95,000

($75,000 exempt)

$118,750

($75,000 exempt)

$142,500

($75,000 exempt)

$166,250

($75,000 exempt)

$190,000

($75,000 exempt)

Assessed Value after Exemption

0

$20,000

$43,750

$67,500

$91,250

$115,000

Property Taxes are applied to 10% of Assessed Value after Exemption

2 mill Property Tax Percentage

0

.002

$2,000

.002

$4,375

.002

$6,750

.002

$9,125

.002

$11,500

.002

Property Tax Increase Per Year

0

$4.00

$8.75

$13.50

$18.25

$23.00

Property Tax Increase Per Month

0

$0.34

$0.73

$1.13

$1.53

$1.92