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 (aka 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 (Additional and Replacement Levies approved by voters after 2013 are not reduced by the Non-Business Credit or the Owner Occupant Tax Reduction).
Sample Calculation for Austintown Township Proposed Additional Fire Apparatus Levy
Assessed Value (35% of Market Value)
Divide by 1,000 (Tax rates are based on a taxable thousand) Proposed Millage Amount