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Johnson County Auditor
Commissioner of Elections
and Voter Registration


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Tom Slockett, Auditor

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Calculating Taxes Using Levy Rates

This spread sheet (Excel or .pdf) lists tax levies for Johnson County, Iowa that will be used in the computation of property taxes payable in FY’11, due September 1, 2010 and March 1, 2011 (based on 2009 assessments). The levies on the schedule are represented in dollars per $1,000 valuation.

The assessed value of property will be rolled back as follows:

 

Residential (including Ag Dwelling)

46.9094%

Ag Land 

66.2715%

Ag Buildings 

66.2715%

Commercial 

100.0000%

Industrial 

100.0000%

Utilities 

100.0000%

Railroads

100.0000%

We receive a number of calls from the public and professionals about tax calculation. Below is an example of a typical residential tax calculation for Iowa City, Iowa City.

$ 100,000

Assessed value (100% value)

X .469094

Rollback percentage (residential class)

$ 46,909

Rollback value (taxable)

Less 1,852

Military exemption (if applicable)

$ 45,057 

Net taxable value

X .04091519

Levy divided by $1,000 (varies with taxing district)(IC, IC)

$1,843.52

Gross tax

Less $127.00

Homestead Credit, if applicable ($4,850 x 0.04059569 x .73) *

$1,716

Property tax
(rounded to the nearest even dollar)

 * Homestead Credit = [full homestead value (4,850)] x [levy for the tax dist.] x [% reimbursement this year by State (64%)]

 


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Please e-mail questions or comments to Auditor@pobox.com.
Phone: (319) 356-6004 FAX: (319) 356-6086
Mailing address: 913 S. Dubuque St., Suite 101, Iowa City, IA 52240