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The "tax rate" is determined by the amount of the tax levy. To arrive at this amount, the taxing jurisdiction (County, town, school district, and fire districts) develops and adopts a budget. Next, all revenue sources except the property tax are computed. These include State aid, sales tax revenue, user fees, fines, etc. When all of these alternative funding sources are subtracted from the budget, the remaining level is the tax levy, which is raised by property tax. The total taxable assessed value is divided into the tax levy to produce a tax rate.
(FAQ10551)
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