Taxes - FAQ's
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Difference between appraised value & assessed value?-
What does the term "Mill Levy" mean?
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...how do I figure my taxes?
What is the difference between appraised value and assessed value?
The APPRAISED VALUE represents the market value of a property. In Johnson County, the County Appraiser's office determines appraised value, taking into account the property's location, topography, size, shape, quality, age, and condition of building(s), as well as current market conditions for similar properties.
The ASSESSED VALUE is by law a fixed % of the appraised value. The assessed value of a residential property is currently set at 11.5% of its appraised value.
What does the term "Mill Levy" mean?
The mill levy is the tax rate that is applied to each $1,000 of a property's assessed value to determine the amount of taxes owed.
I know what my house is appraised for, but how do I figure my taxes?
This question is easiest answered with an example.
Properties in Shawnee are in 1 of 3 school districts: Shawnee Mission, DeSoto, or Olathe. Let's say you live in the Shawnee Mission School District and your home has been appraised at $211,000. Your assessed valuation would be $211,000 x 11.5%, or $24,265.
For 2008, Shawnee residents living in the Shawnee Mission School District pay a total mill levy of 110.151 mills, of which 24.652 mills are for taxes to the City of Shawnee.
Your TOTAL TAXES would be:
$24,265 (your assessed valuation)
.110151 (110,151 mills, your total mill levy)
$2,672.81
TAXES PAID to the City of Shawnee would be:
$24,265 (your assessed valuation)
.024652 (24.652 mills, the Shawnee mill levy)
$598.18