Example of Broadwater County Property Tax Calculation
Broadwater County calculates property tax based on the assessed value of the property. The assessor's office determines the value of the property by considering its location, size, and condition. The assessed value is then multiplied by the millage rate, which is set by the county commission.
For example, let's say a property in Broadwater County has an assessed value of $100,000 and the millage rate for that area is 100. The property tax calculation would be as follows:
$100,000 assessed value x 0.1 (100/1000 for millage rate) = $10,000 property tax
This means that the property owner would owe $10,000 in property taxes for the year. It's important to note that property tax rates can vary based on factors such as location and property type.
If you want appeal your property tax assessment - contact your local tax assessor.
Broadwater County Property Tax Rates
The Broadwater County Property Tax rates table is presented below:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Residential | $1.54 |
| Commercial | $2.11 |
| Agricultural | $1.56 |
| Industrial | $2.07 |
| Personal | $1.94 |
Please note that these rates are subject to change, and it is recommended to consult with a certified tax advisor for specific and up-to-date information for your individual situation.
Who sets property tax rates in Broadwater County ?
Who sets property tax rates in Broadwater County?
The Broadwater County Board of County Commissioners is responsible for setting property tax rates in Broadwater County. The board consists of three elected officials who work closely with the County Treasurer to determine the appropriate tax rates for the county.
When are property tax rates set in Broadwater County?
Property tax rates in Broadwater County are typically set in early fall. The board holds public meetings to discuss the county's budget and gather input from community members before determining the tax rates for the upcoming year.
How are property tax rates calculated in Broadwater County?
The amount of property tax owed in Broadwater County is calculated by multiplying the assessed value of a property by the tax rate. The assessed value is determined by the Broadwater County Assessor's Office, which conducts regular property assessments to determine the fair market value of each property in the county.
Once the assessed value is determined, the Broadwater County Board of County Commissioners uses that information to set the tax rate. The tax rate is typically expressed as a percentage of the assessed value, with different rates for different types of property (e.g. residential, commercial, agricultural).
Conclusion
In summary, the Broadwater County Board of County Commissioners is responsible for setting property tax rates in Broadwater County, typically in early fall. The tax rate is calculated by multiplying the assessed value of a property by the appropriate tax percentage determined by the board.
When is Broadwater County Property Tax due ?
Broadwater County Property Tax is typically due on November 30th. There are several payment methods available for property owners to use in order to ensure timely payment of their property taxes, including:
Payment Methods:
- Online: Property owners can pay their property taxes online using the Broadwater County website. This method accepts credit cards and e-checks for payment.
- Mail: Property owners can also pay their property taxes by mailing a check or money order to the Broadwater County Treasurer's Office.
- In Person: Property owners can make their property tax payment in person at the Broadwater County Treasurer's Office during regular business hours.
It is important to note that property taxes must be paid in full by the due date to avoid penalties and interest charges. Additionally, property owners who are unable to pay their property taxes in full may be eligible for a payment plan with the Broadwater County Treasurer's Office.
If you have more questions - contact your local tax collector.
Homestead exemptions in Broadwater County ?
To help Broadwater County residents navigate the Homestead exemption process, here is a breakdown of all the county-specific exemptions and deductions. The following table includes the columns of exemption, eligibility, amount, and notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Basic Exemption | All homeowners | Up to $100,000 | Exempts the first $100,000 of a property's market value from property taxes |
| Senior Citizen Exemption | Homeowners 62 or older | Varies | Exempts a portion of a property's appraised value from property taxes for qualifying seniors |
| Disabled Veteran Exemption | Veterans with 100% service-connected disability | Up to $200,000 | Exempts up to $200,000 of a property's appraised value from property taxes for qualifying disabled veterans |
| Medical Hardship Exemption | Homeowners with a serious medical condition | Varies | Exempts a portion of a property's appraised value from property taxes for qualifying individuals with a serious medical condition |
| Forestland Classification | Landowners with qualifying forestland | Varies | Allows qualifying forestland to be classified as productive forestland, which can reduce property taxes |
It's important to note that eligibility requirements and exemption amounts may vary depending on individual circumstances. Broadwater County residents should contact their local tax assessor's office for more information on how to apply for these exemptions and deductions.
By using this table, homeowners in Broadwater County can easily compare and understand the different Homestead exemptions and deductions available to them.
How is Broadwater County Property Tax penalty calculated ?
Broadwater County Property Tax Penalty Calculation
When property taxes are not paid on time, a penalty is applied according to the Broadwater County property tax rules. The penalty is calculated based on the tax amount owed and the number of days past the due date.
Here is an example to illustrate how the penalty is calculated:
Suppose a property owner in Broadwater County owes $2,000 in property taxes for the year 2021. The due date for payment is November 30, 2021. If the property owner fails to pay by that date, a penalty will be applied as follows:
| Time Past Due | Penalty Rate |
|---|---|
| December 1-31, 2021 | 2% of the unpaid tax amount |
| January 1-31, 2022 | 3% of the unpaid tax amount |
| February 1-28, 2022 | 4% of the unpaid tax amount |
| March 1-31, 2022 | 5% of the unpaid tax amount |
| April 1-30, 2022 | 6% of the unpaid tax amount |
| May 1-31, 2022 | 7% of the unpaid tax amount |
| June 1-30, 2022 | 8% of the unpaid tax amount |
| July 1-31, 2022 | 9% of the unpaid tax amount |
| August 1-31, 2022 | 10% of the unpaid tax amount |
| September 1-30, 2022 | 11% of the unpaid tax amount |
| October 1-31, 2022 | 12% of the unpaid tax amount |
| November 1-30, 2022 | 13% of the unpaid tax amount |
For example, if the property owner pays the taxes on December 15, 2021, the penalty would be 2% of $2,000, which is $40.
It is important for property owners in Broadwater County to pay their property taxes on time to avoid penalties and interest charges. Any questions or concerns regarding property taxes or penalties should be directed to the Broadwater County Treasurer's office.
We recommend contacting the Broadwater County Tax Office or a local tax professional for the most up-to-date and accurate information.