Property Tax

Property Tax

Part A: Property tax rates

Assessedvalue $103,500

CurrentTax =

Municipality

Total Rates

Current tax

CITY OF BEXLEY

142.52

14,750.82

CITY OF UPPER ARLINGTON

133.13

13,778.96

CITY OF WORTHINGTON

125.71

13,010.99

CITY OF GAHANNA GAHANNA-JEFFERSO

112.78

11,672.73

CITY OF COLUMBUS

100.51

10,402.79

Part B: Using millage

CurrentTax = millage * Assessed value

Millage= Total rate / 1000

Assessedvalue $103,500

Municipality

Total Rates

Millage

Current tax

CITY OF BEXLEY

142.52

0.14252

14,750.82

CITY OF UPPER ARLINGTON

133.13

0.13313

13,778.96

CITY OF WORTHINGTON

125.71

0.12571

13,010.99

CITY OF GAHANNA GAHANNA-JEFFERSO

112.78

0.11278

11,672.73

CITY OF COLUMBUS

100.51

0.10051

10,402.79

Part C: Applying property tax rate andproperty millage

Q1

Assessedvalue $67,000

Worthingtonlibrary tax 4.8

Millage= =0.0048

Tax= 0.0048 × 67,000 = $321.6

Q2

Assessedvalue $67,000

Worthingtonlibrary rate 4.8

Tax= × 4.8 = $321.6

Q3

Value$131,000

Cityof Columbus rate 3.14

Tax= × 3.14 = $411.34

Q4

Assessedvalue $131,000

Cityof Columbus rate 3.14

Usingmillage

Millage=

Tax= 0.00314 × 131,000 = $411.34

Part C: Property tax components

Q1

Component

Rate

Millage

GENERAL FUND

1.47

0.0015

CHILDREN SERVICE

1.90

0.0019

ZOOLOGICAL

0.75

0.0008

ADAMH BOARD

2.20

0.0022

MENTAL HEALTH &amp RETARDATION

3.50

0.0035

METRO PARK

0.75

0.0008

CHILDREN SERVICE

3.10

0.0031

MENTAL HEALTH &amp RETARDATION

3.50

0.0035

OFFICE ON AGING

1.30

0.0013

TOTAL RATE

18.47

0.0185

Q2

Assessedvalue $70,000

Metropark tax rate 0.75

Usingmillage

Millage=

MetroPark Tax = 0.00075 × 75,000 = $56.25

Q3

Assessedvalue $70,000

Metropark tax rate 0.75

Usingproperty tax

MetroPark Tax =

Part E: Comparing tax with the neighbouring jurisdiction

Table2 Franklin County Components

Assessedvalue $80,000

Components

Bexley Tax Rate

Tax

% of Total

Columbus Tax Rate

Tax

% of Total

County

GENERAL FUND

1.47

117.60

1.03%

1.47

117.60

1.46%

CHILDREN SERVICE

1.90

152.00

1.33%

1.90

152.00

1.89%

ZOOLOGICAL

0.75

60.00

0.53%

0.75

60.00

0.75%

ADAMH BOARD

2.20

176.00

1.54%

2.20

176.00

2.19%

MENTAL HEALTH &amp RETARDATION

3.50

280.00

2.46%

3.50

280.00

3.48%

METRO PARK

0.75

60.00

0.53%

0.75

60.00

0.75%

CHILDREN SERVICE

3.10

248.00

2.18%

3.10

248.00

3.08%

MENTAL HEALTH &amp RETARDATION

3.50

280.00

2.46%

3.50

280.00

3.48%

OFFICE ON AGING

1.30

104.00

0.91%

1.30

104.00

1.29%

Library

2.80

224.00

1.96%

2.80

224.00

2.79%

Township

0.00

0.00

0.00%

0.00

0.00

0.00%

City/Village

7.85

628.00

5.51%

3.14

251.20

3.12%

School District

113.40

9,072.00

79.57%

76.10

6,088.00

75.71%

Vocational School

0.00

0.00

0.00%

0.00

0.00

0.00%

TOTAL CURRENT TAX

142.52

11,401.60

100.00%

100.51

8,040.80

100.00%



Reference

WilliamH. Hoffman, J. and James E. (2010). South-WesternFederal Taxation: Individual Income Taxes, 2016 EditionCENGAGE Learning ISBN: 9781305393301