Property tax impact estimate calculator for the November 5th 2024 Capital Levy measure proposed by the West Valley SD

Input (Enter Your Data)

Output (Results)

Estimated obligations for the example property

Usage

1) Select your property's 2024 Tax Year AV.

2) Select your property's guesstimated annual AV percent change for the next 3 years.

3) Select the average for all the other tax area's existing properties' guesstimated annual AV percent change for the next 3 years. This should usually be set to the same value assumed for parameter 2 as most properties rise and fall in AV at the same pace. An example where that might not be the case is if your property has more land than the average property since land tends to appreciate faster than structures.

4) Select the guesstimated value for new construction as a percent of the previous year's Total AV.

5) Review the output table results.

Notes

This interactive calculator was created by the author independently from and not associated with the school district.

POF: The Proportional Obligation Factor for any given year equals the assessed value (AV) of the example property divided by the Total AV of the properties within the district's tax area.

AV: AV is the assessed value of a property as assessed by the county assessor's office. The AV of a property is supposed to be the market value at the time of the assessment. AVs are always a year behind. For example, the county assessor's office during the summer of 2024 is assessing properties to assign AVs to use in the 2025 tax year.

Equations

There are two ways to calculate the property tax for a given year for a given property. They are equivalent.

For any given year:

POF For The Year = {Example Property's AV For The Year} / {Total AV For The Year}

Example Property's New Levy's Tax Payment For The Year = {POF For The Year} X {New Levy's Total Tax Payment For The Year}

Resulting New Levy's Tax Rate For The Year = {New Levy's Total Tax Payment For The Year} / {Total AV For The Year} X 1,000

Example Property's New Levy's Tax Payment For The Year = {Resulting New Levy's Tax Rate For The Year} X {Example Property's AV For The Year} / 1,000

Data Sources

The district's resolution.