Page 5

110CSR21B

APPENDIX

Example 1. The credit available (when the taxpayer pays the property tax liability after the date for eligibility to receive a 24 % discount) for eligible property with an assessed value of $30,000 is calculated as follows.

Assessed value of eligible property

as found on county property book. $30,000 Homestead Exemption 20,000 Taxable assed value 10,000 Average tax rate (varies by county) -0123 Property tax due the county sheriff $ 123.00* Tax credit available to eligible owner $ 123.00

*paid after discount period expires

Example 2.

The credit available (when the taxpayer pays the property tax liability on or before the date for eligibility to receive a 2 2% discount) for eligible property with an assessed value of $25,000 is calculated as follows.

Assessed value of eligible property

as found on county land book $25,000 Homestead Exemption 20,000 Taxable assessed value 5,000 Average tax rate (varies by county) 0123 Property tax due the county sheriff $ 59.96* Tax credit available to eligible owner $ 59.96

*paid before discount expires

Example 3. The credit available for eligible property with an assessed value of $19,000 is calculated as follows.

Assessed value of eligible property

as found on county land book $19,000 Homestead Exemption 20,000 Taxable assessed value 0 Property taxes due the county sheriff 0 Tax credit available 0