HOW REAL PROPERTY TAXES ARE CALCULATED
  1. This example illustrates a residential property in the City of Bryan with a market value of $100,000.
  2. To compute the taxable or assessed value, multiply the market value (1) times 35%.
  3. To compute the gross taxes, divide the taxable rate ($68.75) by 1000 and multiply the factor by the taxable value ($35,000).
  4. Multiply the gross taxes by the reduction factor of 35.846% to compute the tax reduction.
  5. Subtract the tax reduction from the gross taxes to compute the taxes before rollback and homesite credit.
  6. Multiply the total from step (5) by 10% to compute the rollback.
  7. Multiply the total from step (5) by 2 ½% to compute the Homesite Credit.
  8. Subtract the amounts computed in steps (6) and(7) from the total computed in step (5) to compute the net taxes due.

SAMPLE: BRYAN CITY VOTED MILLAGE = $68.75
1. Market Value of Property$100,000
2. Taxable Value (35% of Market Value) $ 35,000
3. Gross Real Estate Taxes($35,000 x .06875)$ 2,406
4. Less: Tax Reduction($2,406 x 35.8462%)$ (862)
5. Subtotal$ 1,544
6. Less: 10% Rollback($1,544 x 10%)$ (154)
7. Less: 2 1/2% Homestead Credit($1,544 x 2.5%) $ (39)
8. Net Taxes Due $1,351

 Net taxes due does not include any "Special Assessments" applicable to your property.