No shortage of confusion when it comes to taxation. We mistakenly made reference to percentages previously...to simplify, we are using real dollar values for the sake of explanation.
As the new gymnasium for Miami R-1 schools was voted down last month...it will again appear on the November ballot as proponents make another attempt at getting the project passed by voters.
In a nutshell, the proposed tax increase to patrons is an additional 41 cents per $100 valuation for 15 years.
Naturally, many are wondering exactly how this increase would affect their bottom line.
Mid America Live spoke with Bates County Tax Collector Jim Platt to get the full scoop....and yes, calculating the amount it will add to your taxes is a little complicated, but this should help:
Take your assessed amount and divide it by 100; take that number times .41 (cents) then add that amount to your tax bill.
So now you ask, what is my assessed amount? It is listed on your tax receipt. Find that amount and use the above method to determine the final number.
And just how are taxes figured? Take your assessed value (as determined by the Assessor and shown on your tax statement) divided by 100 (since the law is per $100.00 valuation). You then take that amount times your levy. For example, if your assessed value is $1000.00 and your levy is $5.00 your tax would be $50.00 ($1000.00 divided by 100) = 10 X $5.00 = 50.00. Use last year's levy amount for now, as this years levy won't be certified by the state auditor until later this month.
Also, the proposed 41 cent increase will sunset in 2033, meaning it will be dropped without any additional cost to taxpayers for the gym project.
Clear as mud? Hopefully we've answered your questions. Our thanks to Bates County Collector Jim Platt, Bates County Clerk Marlene Wainscott and Marilyn Lindsay of Miami R-1 for their input.
