Tallapoosa County - Calculating Your Taxes

Calculating Your Taxes

The last stepis to collect taxes. There are several factors to consider when trying tocalculate your total tax due. Property class, appraised value, assessed value,and millage rate, are all necessary to be able to arrive at a correct taxamount.

PROPERTYCLASSIFICATION

In Alabamaproperty is classified as:

Class I	Utility	30%
Class III	Single Family "Owner Occupied" Residential Property and Farm Property	10%
Class IV	Motor Vehicles	15%
Class II	All Other Property	20%

Multiply the appraised value of the property by the proper classification todetermine the assessed value. The assessed value is then multiplied by thecorrect millage rate. A mill is one-tenth of one cent (.001). Theamount of taxes to be paid is determined by multiplying the assessed value bythe appropriate millage rate, lessthe proper exemptions. If you own and live in a residence, you would betaxed on approximately 10 percent of the appraised value. All otherproperty would be taxed at 20 percent. Millage rates are set by the countycommission and other taxing agencies, in response to the needs of the countygeneral fund, and the needs of others who receive property tax revenues.

TALLAPOOSACOUNTY MILLAGE RATES

OD	Dadeville	35.0 mills
OC	Camp Hill	35.0 mills

OT	Tallassee	22.5 mills
O5	Dist 25-A	30.0 mills
OA	Alex City	37.5 mills
O1	Sch Dist 1	30.0 mills

FORMULAFOR FIGURING TAXES

Estimated Market Value	$100,000
Class III Property	x .10
Assessed Value	10,000
Millage Rate	x .030 mills
Estimated Tax Due	$ 300