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8 | Page <br />2022 TAXABLE VALUATION <br />The tax base is a derivative of the taxable valuation throughout Cass County. The value used for the tax <br />base is the true and full value less any exemptions. This is known as the net assessed value as it <br />represents any property subject to taxation in Cass County. <br />The taxable valuation is determined by applying an assessment ratio of 50% to the appraised value of <br />all taxable property. Then, residential property has a factor of 9% applied and commercial and <br />agriculture use 10%. <br />The taxable valuation multiplied by the mill levy will determine the total revenue received from <br />property taxes. <br />The following table provides a projection of the 2022 taxable valuation. The mill levy will not be <br />determined until November and many changes will occur between now and then. Examples of these <br />changes could be from abatements, errors in assessments, or exemptions filed late. I have provided <br />an estimate of these changes as detailed in the “adjustments” portion of the projection below. The table <br />also contains an estimate of value for centrally assessed property. The state calculates centrally <br />assessed property and provides valuations to the county yearly, each fall. <br />2022 Taxable Value Projection (Rural Cass County) <br />AGRICULTURE <br />RESIDENTIAL <br />COMMERCIAL <br />-Less TIF <br />-Less Adjustments <br />$57,473,355 <br />$98,908,300 <br />$22,325,052 <br />($2,634,087) <br />($200,000) <br />+Plus Centrally Assessed* $9,820,909 <br /> PROJECETED TAXABLE VALUE $185,693,529 <br />*Centrally assessed values estimated from 2021