Tax Structure
Real Estate
| Nominal tax rate per $100 of assessed valuation | $0.72 |
| Assessment ratio (percent of fair market value taxable) | 100.00% |
| District levies may be imposed in addition to basic county or city levy. |
Machinery and Tools
| Nominal tax rate per $100 of assessed valuation | $1.90 |
| Assessment ratio by year (value used for tax purposes original cost) |
| 1+ | 10% |
| District levies may be imposed in addition to basic county or city levy. |
Personal Property Tax
| Individual | $2.43/$100 of assessed value |
| Business | $1.90/$100 of assessed value |
District levies may be imposed in addition to basic county or city levy. For large trucks, the nominal tax rate is the same; however, the method of assessment and/or the assessment ratio may be different.
Automobiles and Trucks (less than 2 tons)
| Nominal tax rate per $100 of assessed valuation | $1.90 |
| Value used for tax purposes | Average Trade-In |
| Assessment ratio | 100.00% |
| District levies may be imposed in addition to basic county or city levy. For large trucks, the nominal tax rate is the same; however, the method of assessment and/or the assessment ratio may be different. |
Utility Purchases
| Electric | $1.72 + $0.014558/kWh ($2.25 max) |
| Gas | $100.00 + $0.082/CCF on first 10,000 CCF, $0.075/CCF on next 40,000 CCF, $0.07/CCF next 150,000 CCF, $0.069/CCF on excess ($180 max) |
| Note: Tax rate is for monthly bills. Portions of electric bills are exempt in some localities. |
Tangible Personal Property (Business Furniture and Fixtures)
| Nominal tax rate per $100 of assessed valuation | $1.90 |
| Assessment ratio by year (value used for tax purposes original cost) |
| 1 | 90% |
| 2 | 80% |
| 3 | 70% |
| 4 | 60% |
| 5 | 50% |
| 6 | 40% |
| 7 | 30% |
| 8+ | 25% |
| (minimum is 10%) |
| District levies may be imposed in addition to basic county or city levy. |
Merchant's Capital
| Nominal tax rate per $100 of assessed valuation | $0.65 |
| Value used for tax purposes | Original Cost |
| Assessment ratio (in years) | 100.00% |