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Type A Notice of Spring Election on 4/4/2023: Type A notice of Spring election on 4/4/2023

TEST TW WEATHER

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.