The Tax Amount Due, also referred to simply as the Tax Due, is calculated for each billing within the tax year. See the following calculations:
Real Estate:
Total Tax Due = [Land Value
+ Tree Value
+ Building Value
- Exemptions Total for Property
- Exemptions Total for Credits]
X Tax Rate
Total/1000
Personal Property:
Total Tax Due = [Machinery Value
+ Furniture & Fixture Value
+ Watercraft Value
+ Miscellaneous Value]
X Tax Rate Total/1000
Where-Used: Tax Amount Due is calculated when printing Real Estate Tax Bills or Personal Property Tax Bills and when Posting Tax Bills. The posting program uses the calculated totals to generate the Detail Transaction Amount for each billing.
Note: The Tax Amount Due can optionally be broken down into General Tax, School Tax, and County Tax when printing the tax bills, however the values are not stored.
Format: 7.2 numeric