How City Tax is Determined
Estimated Market Value
-- McLeod County Assessors Value
State Law - must use comparable sales
Tax Capacity
-- State Law - Percentage applied to Market Value
Percentage determined by property use/classification
Tax Rate
--Total City Tax Dollar Request
Divided By
--Total Tax Capacity of City
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How City Tax is Determined 2007
Estimated Market Value
-- $824,704,600
Tax Capacity
-- $9,569,232
Tax Rate
--$5,367,386
Divided By
-- $9,569,232
-- =56.1%
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