November ballot comes with a price tag

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November ballot comes with a price tag

If state, local ballot measures pass, what will you owe?
Cliff Vancura/Durango Herald file

In addition to federal, state and local offices, the Nov. 8 La Plata County ballot includes five constitutional amendments, three proposed state statute revisions, two county mill levy increases and two school district mill levy increases.

November ballot comes with a price tag

Cliff Vancura/Durango Herald file

In addition to federal, state and local offices, the Nov. 8 La Plata County ballot includes five constitutional amendments, three proposed state statute revisions, two county mill levy increases and two school district mill levy increases.
How do you calculate property tax?

A tax bill is calculated by multiplying the total assessed value of a home by the mill levy.
The assessed value for residential properties is calculated by multiplying a home’s appraised value by the residential assessment ratio, which in La Plata County is 7.96 percent.
For example, a home appraised at $400,000 would have an assessed value of $31,840 ($400,000 x .0796).
Therefore, the property taxes for a $400,000 home, if the county mill levy is raised to 10.9 mills, would be about $347, or $76 more than the homeowner pays under the current mill levy of 8.5 mills.
That is calculated by multiplying the $31,840 assessed value by 10.9 mills.
A property tax simulator is available on the county assessor’s website. The tool allows property owners to calculate their annual and monthly tax increases depending on how they vote on the local ballot initiatives.
Jessica Pace/Durango Herald

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