Use our handy calculator located here: https://hamtramcktaxes.com/?#calculator to find our how much your taxes will increase with both proposals. Calculation is made based on your property taxable income. For example let’s take the commercial property 9001 Jos Campau, the tax increase here will be calculated as:
Formula: (Taxable Amount / 1000) * Millage
With a taxable value of $622,838.00 their yearly increase breaks down to:
City Millage (Police/Firefighter pensions) 10.5 millage = $6,539.80
School Bond 7.5 millage = $4,359.87
That is a total of $10,899.67 a year more this owner will need to pay! Use our handy calculator to figure out how much your taxes will increase a year. Stay tuned on why both of these measures are not good for the city or it’s residents.