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Unofficial Town Board Election Results:   UNOFFICIAL TOWN OF PALMYRA TOWN BOARD ELECTION RESULTS (NOTE:  These numbers can change after Board of Canvass, scheduled for Wednesday morning, April 2).   Voters -670   Chair: Kau – 247 Sauter – 385   Super 1: Martens – 340 Willson – 269   Super 2: Gajewski – 485 Write in - 10

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Explanation of Property Tax Increase due to Exceeding Levy Limit

The Town of Palmyra’s original Levy amount for 2022, to be paid in 2023, is $470,075.26.  The Town of Palmyra’s Aggregate Assessed Value, from the Jefferson County’s Statement of Assessment, is $227,684,682.00.

The per thousand of assessed value is then $2.06 ((original levy / aggregate assessed value) * 1,000).

On a property worth $100,000 this would amount to a property tax of $206.46 for the Town of Palmyra.

 

The Town of Palmyra’s proposed exceeded Levy amount for 2022, to be paid in 2023, is $620,075.26.  The Town of Palmyra’s Aggregate Assessed Value, from the Jefferson County’s Statement of Assessment, is $227,684,682.00.

The per thousand of assessed value is then $2.72 ((exceeded levy / aggregate assessed value) * 1,000).

On a property worth $100,000 this would amount to a property tax of $272.34 for the Town of Palmyra.

 

If the Town of Palmyra exceeds their levy, at the proposed amount, the increase in property taxes per $100,000 property value is $65.88.