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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

Industrial 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
2017   2016   144,583,143   38,077,165
2016   2015   128,583,819   32,313,830
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