Real and Personal Property Taxes

A tax levied on the assessed value of all real and personal property. The current tax rate is $7.307 per $100 assessed value

Discussion

Real and personal property tax revenues are distributed to the following taxing jurisdictions.

State	$ 0.030
Schools	$ 4.300
Junior College	$ 0.240
Library	$ 0.560
Zoo, Museum, Garden District	$ 0.227
Sewer District	$ 0.090
Sheltered Workshop	$ 0.150
Community Mental Health	$ 0.090
City - General Purposes	$ 1.620
TOTAL	$ 7.307

Taxes are levied on all real and personal property owned as of January 1 in each year. Tax bills are normally mailed in November and payment is due by December 31, after which taxes become delinquent. Assessment ratios are 19% for residential property, 32% for commercial property, and 12% for agricultural real estate. Personal property is assessed at 33.3% of the appraised market value.

In addition to the rate shown, commercial real property is taxed at a rate of $1.64 per $100 assessed valuation, as a replacement for the Manufacturer's Inventory tax.