Taxes are calculated based on a rate applied to the limited value of your property. The tax rate is a combination of the rates of all the jurisdictions that have a property tax where you live such as county, city, school districts, and fire districts. There is a Primary Tax Rate and a Secondary Tax Rate. Primary taxes are used to pay the operating expenses of a jurisdiction and the rate is applied to the Limited Value of your property. Secondary taxes are used to pay for special districts, such as fire districts, and other voter-approved items, such as bonds and budget overrides.
The calculation is as follows:
Primary Tax = Limited Value times Assessment Ratio times Primary Tax Rate divided by $100.
Secondary Tax = Limited Value times Assessment Ratio times Secondary Tax Rate divided by $100.
TOTAL TAX = Primary Tax + Secondary Tax