Area Specs - Local Taxes

City Summary | Transportation | Local Taxes | Economy | Energy &Utilities

TAX STRUCTURE
	Local City	County
Property Tax - Rate Per $100 Value	$1.87	$2.10
Ratio of Assessment
Residential	25%	25%
Industrial	40%	40%
Personal (Equipment)	30%	30%
(Inventory Tax) Raw Materials Only
Bonded Debt	$19,223,870	$21,844,288
Assessed Valuation	$150,796,400	$667,195,387
School Tax	None	None
Sales Tax	2.25	2.25
Hotel-Motel Tax	5%	5%
STATE
Sales Tax	7% (6% for food and food ingredients for human consumption)
Income Tax
Personal	6% on Interest & Dividends
Corporate (Excise)	6.5% of Net Earnings
Franchise Tax	.25 per $100 of Capital Properties
Unemployment Tax
New Employers	2.7% of First $7,000