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

 
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