Question: Current Value of Property x Tax Rate

I was searching how they compute the tax rate but I can't find anything. I was also checking for the sales ratio and how it relates to tax rate.

Any thoughts on this Tax Rate?

Answer: First, it is necessary for the taxing authority to know the amount of money (the budget) the local government will spend for one year. The local government provides income for regulatory and service departments, schools, police and fire departments, road maintenance, library, etc. The total budget is composed of these salaries and expenses along with bonded indebtedness (principal and interest payments on borrowed money that was voted for). This budget is then divided by the total dollar amount of all the assessed value of real estate in the tax district (provided by the assessor) to determine your tax rate. That tax rate when multiplied by your property value (assessed value determined by the tax assessor) equals your tax bill.

If you recently purchased your home, the sale price is your best piece of evidence in determining what your house is actually worth and should be assessed at. If you are relying on a blanket assessment for valuation, be aware that errors may exist. Homeowners can file appeals on these reappraised values For more information see: property taxes as a definitive item-by-item adjustment guidebook.