Estimating Actual Property Tax Collections
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PDF versionReference Number: CTAS-2100
Sample Property Tax Collection with a Variance Factor
Previous Year Assessments
| Real Property | $3,027,936,200 |
| Tangible Personal Property | $395,556,002 |
| Intangible Personal Property | $0 |
| Public Utilities & Transportation | $144,750,000 |
| Total Assessed Value | $3,568,242,202 |
| Apply Previous Year Tax Rate | $0.0247 |
| Property Tax Collection at 100% | $88,135,582 |
| Actual Property Tax Collected | $83,728,803 |
| Actual Collection Percentage | 95% |
Current Year Assessments
| Real Property | $3,107,686,845 |
| Tangible Personal Property | $359,968,235 |
| Intangible Personal Property | $0 |
| Public Utilities & Transportation | $130,880,876 |
| Total Assessed Value | $3,598,535,956 |
| Apply Current Year Tax Rate | $0.0247 |
| Property Tax Collection at 100% | $88,883,838 |
| Apply Historical Collection Percentage | 95% |
| Property Tax Collection Estimate | $84,439,646 |
Net Penny Calculation
|
Property Tax Collection Estimate |
$84,439,646 |
| Divide by 100 | $844,396 |
Determining the Yield of One Cent of the Property Tax Rate
| Total Assessed Value | $3,598,535,956 |
| Divide by $100 | $35,985,359 |
| Multiply by one cent ($0.01) | $359,853 |
| Multiply by historical collection percentage | 95% |
| What one-cent yields from a one cent rate | $341,860 |