Chillicothe R-II Proposed 80 Cent Levy Increase – Part 3
A proposed 80 cent per $100 valuation levy increase for the Chillicothe R-II School District will be considered by voters on Tuesday. Superintendent Dr Roger Barnes says the levy would generate an additional $990,000 per year. He says for the taxpayer, they would see an increase on their property tax statement.
The Livingston County Assessor’s office says for residential property, the assessed valuation is 19% of the home’s market value. So, a home valued at $100,000 times 19% gives you an Assessed Valuation of $19,000.
The tax is based on every $100 of assessed valuation, so divide that by 100 and multiply by the proposed increase, in this case, 68 cents (80 cents – 12cents that goes away).
So the calculation looks like this:
$100,000 x 19% = $19,000
$19,000 / 100 = $190
$190 x 68 cents = 129.20 <-<- your increase
You can check your county property and real estate tax statement to determine your most recent valuation.