Calculate Real Property Taxes

How Real Property Taxes Are Calculated

This example illustrates a residential property in the City of Bryan with a market value of $100,000. Please note that tax rates vary between taxing districts and the rates, reductions and credit %s used in this example are specific to properties in the Bryan City taxing district. Use the following steps:

  1. To compute the taxable or assessed value, multiply the market value (1) times 35%.
  2. To compute the gross taxes, divide the taxable rate ($81.45) by 1000 and multiply the factor by the taxable value ($35,000).
  3. Multiply the gross taxes by the reduction factor of 30.9931% to compute the tax reduction.
  4. Subtract the tax reduction from the gross taxes to compute the taxes before the Non-Business and Owner Occupancy 
  5. credits.
  6. Multiply the total from step (5) by 8.2425% to compute the Non-Business Credit.
  7. Multiply the total from step (5) by 2.0606% to compute the Owner Occupancy 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 = $81.45

Net taxes due does not include any "Special Assessments" applicable to your property.
Taxes & Reductions
 Formula Amount
1. Market Value of Property
$100,000
2. Taxable Value
 (35% of Market Value)
 $35,000
3. Gross Real Estate Taxes
 ($35,000 x .08145)
 $2,851
4. Less: Tax Reduction
 ($2,851 x 30.9931%)
 ($884)
5. Subtotal
$1,967
6. Less: Non-Business Credit
 ($1,967 x 8.2425%)
 ($162)
7. Less: 2 1/2% Owner Occupancy Credit
 ($1,967 x 2.0606%)
 ($41)
8. Net Taxes Due
$1,764