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Open Book and BOR notice of dates and times: Open Book and BOR notice of dates and times

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.