How are property taxes determined?
Property tax is calculated by multiplying the assessor’s appraised (actual) value of the property by the assessment rate to get the assessed value. The assessed value is then multiplied by the mill levy.

The taxes on a residential property valued at $100,000 with a mill levy of 57.25 would be calculated as follows:

$100,000 x 7.96% = $7,960 x .05725= $455.71
(Actual Value) x (Assessment Rate) = (Assessed Value) x (Mill Levy) = Tax Dollars

Show All Answers

1. How are property taxes determined?
2. What is a mill levy?
3. What is an assessment rate?
4. When will I receive a Notice of Valuation and what information does it contain?
5. How is the actual value determined?
6. What are the appraisal methods?
7. What is time adjustment?
8. What is the land distribution in Grand County?