The tax rate is set by City Council in the spring of each year. The formula to calculate your taxes is as follows: Assessment divided by 100 X Tax Rate = Annual Taxes.
Real estate valued at $100,000 the annual taxes are calculated as follows:
$100,000/100 = $1,000 x $0.95 = $950.
The semi-annual tax bill is calculated by dividing annual taxes by 2: $950/2 = $450. The tax rate is currently $0.95 per $100. City taxes are paid twice a year to the City Treasurer’s Office on June 5 and December 5, respectively.