1.) What is the total property tax bill for your house in Ohio with a market...

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1.) What is the total property tax bill for your house in Ohiowith a market value of $125,000? Note the following and show yourcalculations in the space below:
? You are eligible for the $25,000 homestead exemption
? The city in which you live has a millage rate of 70.
? Don’t forget residential taxable value is 35% of assessedvalue in Ohio!
Assuming the exact same scenario as above;
2.) Research online to identify a proposed levy (present orpast) that would impact property taxes. The levy can be in anystate over the last 5 years BUT still assume the scenario in Q1 forthe sake of simplicity/practice. Identify:
A. The source:
B. A summary of the issue (location, proponents, why pursuing),100-250 words:
C. The proposed levy’s impact on property taxes:
D. How the levy would impact YOUR property taxes for theproperty in Q1:

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3.7 Ratings (419 Votes)

Answer 1 Assessed Value Market Value x 35 125000 x 35 43750 Current Real Estate Tax Assessed ValueHomestead Exemption x Millage Rate1000 4375025000701000 131250 2 A Source of Proposed Levy is the laws rates See Answer

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