Mill Levy Breakdown:
- jlthom3544
- Nov 22, 2023
- 1 min read
Population*: 6,488
Median Household Income*: $85,518
Median Home Value: $351,782
Households: 2,348
Businesses**: 97
Sales Tax Rate: 3.0%
Municipal Mill Levy Rate: 23.980
*Information provided by the US Census Bureau
**Includes Home Based Businesses
Population: 15,675
Number of Households: 5,190
Median Household Income: $112,324
Median Home Value: $432,017
Sales Tax Rate: 2.50%
Mill Levy Rate: 6.555
Population: 17,602
Number of Households: 5,809
Median Household Income: $108,321
Median Home Value: $432,017
Sales Tax Rate: 3.60%
Town Mill Levy Rate: 6.805
So lets look at each cities mill levy rate: Dacono at 23.980, Frederick at 6.555, and Firestone at 6.805. Now lets use the math from yesterday's blog.
Dacono:
Mill Levy : 23.980
Assessed value of $23,798 (Median home value $351,782 x residential assessment ratio of 6.765%, rounded to the nearest 10)
This would result in property taxes of approximately $570.67 (23,798 x .023980, rounded to the nearest penny)
Frederick:
Mill Levy : 6.555
Assessed value of $29,226 (Median home value $432,017 x residential assessment ratio of 6.765%, rounded to the nearest 10)
This would result in property taxes of approximately $191.58 (29,226 x .006555, rounded to the nearest penny)
Firestone:
Mill Levy : 6.805
Assessed value of $27,007 (Median home value $399,217 x residential assessment ratio of 6.765%, rounded to the nearest 10)
This would result in property taxes of approximately $183.78 (27,007 x .006805, rounded to the nearest penny)
These numbers can vary based on your home assessment.
What this means is that a home owner in Dacono pays almost 3 times more in taxes than our neighboring cities.
Why should you care about this and what should you do about it? Look for the next blog on Friday to explain more.