Mills Act OR FULLE
RTO
Tax Assessment Worksheet
Annual Property Income
An estimate of monthly rental income is required, even if the Monthly Rental Income Peter may Be o property is owner occupied. For single-fomity residences, o reditor may be oble to essist you in determining the potential rental income from your property. 3800-
Annual Rental Income Martiple monthly rental income by 12. 45600-
Annual Operating Expenses
Insurance 1134-
Utilities Electricity, Water, Gas. 4896-
Maintenance General Repairs, Cleaning, Pointing, Landscaping, 3520- Total Expenses Add total expenses. Total expenses typicolly equal 9550- approximately 25% of onnual rentor income.
Annual Net Income
Net Total Annual rental income minus total expenses. 3b, U50- Capitalization Rate
Interest Rate Component Fixed interest rate established by the Boord of Equalization for most recent year. f4.096/ 6,25%0
Historic Property Tax Risk 4.096 for single-family residences Component 2.096 for all osher properties 470
Property Tax Component Fixed Component (1.0%]
Amortization Component Based an life of improvements Mypicoly 0.67%1 • 6770
Capitalization Rate Add individual components above.
11.92%0
Assessed Value
Historic Property Value Net total divided by copitalization role. 429,716
Current Assessed Value From current property tox bill.
686033
Estimated Tax Reduction
Current Tax General levy tax portion only. Does not include sewer assessments, bond issues, or other voter indebtedness. 6860.
Estimated Tax under Mills Act 1.0% of Historicol Property Value. Provided as an estimore of potential tox savings. 4,297.