Section 18

Question 1

One Mill

Answer 1

One mill equals 1/1000th of a dollar expressed as 0.001.

Question 2

Taxes Due

Answer 2

Taxable Value x Tax Rate = Taxes Due

Question 3

What are the 3 options to protest a property tax assessment?

Answer 3

1. Informal meeting with the property appraiser; 2. File an appeal with the Value Adjustment board; 3. Litigate in court.

Question 4

Ad Valorem

Answer 4

Based on a determined “fair value” of the property- not an arbitrary value. Property tax is called an ad valorem tax.