STREETSBORO CITY SCHOOLS

Financial State of the Schools

HOW DO I FIGURE THE COST?

 

Remember if you are 65 or older subtract $25,000.00

from your property value for the new homestead exemption amount.

 

The new homestead exemption approved by the Governor of the State of Ohio will generate a property tax reduction

totaling $344.00 for all senior citizens.

Enter fair Market Value Here = $ Annual Cost

Do not use commas

 = $ Semi-Annual Cost
  = $ Monthly Cost
  = $ Daily Cost

The worksheet below lets you calculate the cost of any tax levy in five steps. The easiest way is to work from your tax bill copy. If you do not have it handy, call the Portage County Auditor’s Office at 330-297-3561 or link on the web site address below to get that information on line.

 http://portagepropertymax.governmaxa.com/propertymax/rover30.asp

To perform these calculations manually

                   

Step 1

Write the Fair Market Value of the Property in the blank at the right.               

$_______________

Step 2

Multiply by 0.30625 (30 5/8%) to find theAssessed Value of the Property

$_______________

Step 3

Subtract $15.16 if you are over 65 and qualify for the homestead exemption

 $_______________

Step 4

Write in the Millage Rate of the tax issue on the ballot (5.1 mills November 7)

 $_______________

Step 5

Multiply by 0.001 (1/1000) to put the Decimal point in the correct place.

 $_______________

 

As long as the math is correct, you have the annual cost of the tax levy. If you pay your taxes semiannually to the Portage County Treasurer, divide by 2 to get the semiannual amount per payment. If you pay your taxes monthly into a mortgage escrow account, divide by 12 to get the monthly amount per payment.

(The web site link above is not endorsed or affiliated with the Streetsboro City School District Board of Education.)