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I would assume it's because the homestead exemption is a flat $75k. The further the assessed value is above that amount, the greater the variation in the tax percentage.

The assessor explained to me they do not really assess each individual house but rather take an average of homes in a neighbor hood and then apply the average to your square foot.

So if you have a big house in a neighborhood you come out better than if you have the smallest house in a neighbor hood

quote:

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They all say that your property tax will be close to .5% of your home's appraised value. LINK

Yet when you look at the assessor's website, it's closer to double that. See for yourself: LINK

Just trying to get an idea of property taxes on a new house and don't know why the numbers are so wildly apart.

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So you are using a state-wide third party calculator that uses some sort of averages.

Here is the best way to do this.

1) Take your final value price (purchase price, FMV, etc)
2) Subtract 75K
3) Multiply times 10 percent - this is your assessed value.
4) Look up your millage rate - noting that it can change from neighborhood to neighborhood because of varities in taxing districts
5) A mill is 1/1000th of a dollar. So, if you have 125 mills in your area, your rate is .125
6) Multiply #3 x #5

For example, say 250K house value

175K is after exemption, assessed value 17,500

Millage rate of 125 mills

17,500 x .125 = $2,187.50 is your estimated property tax.