How to Calculate Your Taxes - Explained

Appraised Value = 100% Parcel Value

Assessed Value = 35% of Appraised Value

Gross Charge = Assessed Value * (Whole Rate / 1000)

Effective Charge = Assessed Value * (Effective Rate / 1000)

HB 920 Credit (Credit) = Gross Charge - Effective Charge

Non-Business Credit (NBC) = Assessed Value * (Qualifying Rate / 1000) * 0.10

Owner Occupied Credit (OOC) = Assessed Value * (Qualifying Rate / 1000) * 0.025