§ 98285 Tax Rate Determination Process

• •The board sets the tax rate every year by September 1st.
• •The tax rate is based on the value of property in the area.
• •The tax rate is set to collect enough money for what the board needs.
• •The tax rate cannot be higher than the maximum limit set by the law.

If the board needs $1,000,000 for schools and the total value of all property in the area is $100,000,000, the board will set a tax rate.

The board will calculate how much tax to charge per $100 of property value to get the $1,000,000 they need. If they set the rate at $1 per $100, then someone with a house worth $200,000 would pay $2,000 in taxes.