1.) What is the total property tax bill for your house in Ohiowith a market value of $125,000? Note the following and show yourcalculations in the space below:
? You are eligible for the $25,000 homestead exemption
? The city in which you live has a millage rate of 70.
? Don’t forget residential taxable value is 35% of assessedvalue in Ohio!
Assuming the exact same scenario as above;
2.) Research online to identify a proposed levy (present orpast) that would impact property taxes. The levy can be in anystate over the last 5 years BUT still assume the scenario in Q1 forthe sake of simplicity/practice. Identify:
A. The source:
B. A summary of the issue (location, proponents, why pursuing),100-250 words:
C. The proposed levy’s impact on property taxes:
D. How the levy would impact YOUR property taxes for theproperty in Q1:
