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Mill Levy Worksheet

 

Dolores School District Expected Mill Levy Override for $390,000

 

The money would be spent in the following manner

  • $90,000 per year for maintenance and safety upgrades, repair and replacement.
  • $150,000 per year for instructional supplies, books, technology, textbooks and teaching equipment.
  • $150,000 per year for staff recruitment and retention.

To raise $390,000 for Residential properties use this formula

                $________________ x .0796 = _____________ x .007018 mills = $______/Yr

                  "Actual Value" (from your tax bill) 

 

To raise $390.000 for Commercial Properties use this formula

                $________________ x .29 = _______________ x .007018 mill=$_______/yr

                  "Actual Value" (from your tax bill) 

 

 

Residential Examples:

1. Typical Modest Dolores house assessed value of $145,000 x .0796 x .007018 = $81/Year or $6.75 per month (which is fully tax deductible)

*Remember that the "actual value" is often much lower than what a property is worth if you were to sell it (market value): This house might sell for about $200,000-$225,000.

2. A Dolores area house with an "actual value" of: $195,000 x .0796 x .007018 = $108.93 or $9.08 per month (which is fully tax deductible)

*Remember that the "actual value" is often much lower than what a property is worth if you were to sell it: A house like this might sell for about $260-$325,000

3. Or a more expensive house with its "actual value" of $310,000 x .0796 x .007018 mills = $173.17 or $14.43 per month (which is fully tax deductible)

*Remember that the "actual value" is often much lower than what a property is worth (market value) if you were to sell it: A house like this might sell for about $400,000-$475,000

 

 

Commercial Examples:

  • Naked Moose’s "actual value" of $138,780 x .29 x .007018= $282.44 a year or $23.53 month (which is fully tax deductible)

  • Dolores Food Market’s "actual value" of $144,870 x .29 x .007018= $294.84 per year or $24.57 per month

It is important to note that commercial enterprises, including rental properties, can raise additional revenue by passing the cost along to consumers. For business like those listed above a simple $.05 increase in a large selling item like a soda would cover the cost of the tax increase.

 

 

It is VERY IMPORTANT to use "actual value" from your tax notice, not what your house might sell for on the market

This can only be found on your tax bill or by calling the county clerk at 565-3728.  

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