Property taxes are measured in mills. One mill generates one dollar of tax for each $1,000 of a property’s assessed value.
Types of LeviesAdditional Levy - A new levy
Replacement Levy - An existing levy to be replaced at the original levy amount approved by voters before any reduction factors due to House Bill 920. Generally increases current property taxes.
Renewal Levy - An existing levy to be renewed at the current millage amount. Generally does not increase current property taxes.
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Steps to Calculate Real Property Tax Increase from Additional and/or Replacement Levies
Market Value (Value set by Mahoning County Auditor) x 35 % = Assessed Value (Taxable Value)
Assessed Value ÷ 1,000 (Tax Rates are based on a taxable thousand) x Proposed Additional or Replacement Bond/Levy Amount = Yearly Gross Tax Amount before applicable reductions/credits
Market Value Assessed Value (35% of Market Value) Divide by 1,000 (Tax rates are based on a taxable thousand) Tax Rate
Estimate of Additional Taxes*All taxes are estimated on Market Value
PDF Copy of Proposed Levies