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Tax office staff explains how property tax rate is calculated, warns against common multiplier error
Summary
Hillsborough tax office staff outlined how the tax rate is computed from assessed values and levies, warned residents not to multiply an observed difference by four, and recommended using the office's online tax calculator for accurate estimates.
A staff member from the tax office explained how the local property tax rate is calculated, saying the office "takes the assessed value of your property, and we divide it by the levies that are given to us by all of the taxing entities, whether it be the school, the county, the police, the the the parks, the fire, open space, all of that," and that the resulting rate is applied to individual assessments.
Another staff member clarified how adjustments labeled the "3rd 0.25" and the "4th 0.25" reflect differences between the property's assessed value and the tax rate across years and cautioned about a common miscalculation: "people, every year, will take that difference and multiply it by 4, which is incorrect." The staff member said the office provides a tax calculator on its website and urged residents to use it rather than manually multiplying differences to estimate taxes.
No formal action or vote was recorded during this exchange; the segment consisted of staff explanation and guidance for residents seeking accurate tax estimates.
