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Assessed Valuation

 

REAL ESTATE PROPERTY TAX

The schedule below shows the tax rate per $100 of assessed valuation for the City of Union. The City uses a State supplied formula that takes into account the annual Cost of Living increase new construction, and several other factors. As a result, the rate per $100 of assessed valuation tends to trend downward even though individual taxes paid trend upward. The upward trend is a combination of the Cost of Living, the reappraisal of real estate, and new construction.

The assessed valuation is reached by applying a percentage against the appraised value of the property.

For real estate property, the percentage is as follows:

Agricultural 12 Percent

Residential 19 Percent

Commercial 32 Percent

Residential 32 Percent

The rating (or percentage) used is based on the USAGE of the property, not how the property is zoned. Both the USAGE and the APPRAISED value determined by the Franklin County Assessor’s office.

The schedule shows the total assessed valuation of taxable property for the City of Union over the last years as well as the current year’s valuation.

PERSONAL PROPERTY TAX

The valuation of personal property is provided by the Franklin County Assessor’s office.

Fiscal
Year
  Calendar Year   Real
Estate
  Personal Property
2015   2014       130,310,488       31,789,145
2014   2013       129,323,550       30,683,386
2013   2012       135,305,819       29,236,561
2012   2011       133,037,603       28,921,814
2011   2010       135,076,616       26,400,183
2010   2009       130,861,808       28,169,432
2009   2008       127,888,293       28,549,025
2008   2007       123,584,247       27,987,390
2007   2006       107,741,414       29,007,786
2006   2005       101,188,798       25,386,219
2005   2004         83,861,473       23,512,252
2004   2003         79,393,268       23,323,090