How Are Property Taxes Calculated?

To calculate the tax on your home, let's assume you have a home with a taxable value of $100,000, located in the City of Mesquite. The tax rate for 2004-05 in Mesquite is $2.7864 per hundred of assessed value. To determine the assessed value, multiply the taxable value of the home ($100,000) by the assessment ratio (35%):

$100,000 X .35 = $35,000 assessed value

To calculate the tax, multiply the assessed value by the tax rate ($2.7864 per hundred dollars of assessed value).

For Mesquite City:

$35,000 (assessed value) x .027864 (tax rate) = $975.24 taxes for the 2004-05 fiscal year.