The mill levy is determined each year by dividing the total amount of dollars needed by each political subdivision (city, county, schools, park and state) from the property tax by the total taxable value, in our case, of the City of Valley City.
This, in effect, ends up being the percentage of taxable value that is levied or assessed in property tax annually.
An individual property’s annual property tax is determined by multiplying the taxable value by that year’s mill levy. (Move the decimal 3 places to the left on the mill levy.)
The mill levy is a composite of several entities’ tax levying powers.
The following chart shows the mills levied in 2018. Property owners will see these mill levies on the 2018 property taxes. The City of Valley City will use these funds in the 2019 budget.
|Taxing District||Mills Levied||Percent of Annual Levy|
|State of ND||1.00||0%|
|Valley City School District||96.55||31%|
|Valley City Parks & Recreation||37.91||12%|
|City of Valley City||78.01||25%|