Jay County Property Tax Bills by Tax District
Pay 2005
Assessment and Deductions
Median Home Value, 2000 Census	62,500
Assessment-Sales Ratio	1.083
Gross Assessed Value	67,688
Homestead Deduction	33,844
Mortgage Deduction	3,000
Net Assessed Value	30,844
Tax Rate, Credits and Tax Bill
Tax District	Tax Rate	Gross Tax	PTRC Rate	PTRC	Gross Tax - PTRC	State/Local Homestead Credit Rate	Home- stead Credit	Net Tax	Rank Among All 1,960 Districts	Net Tax, Half the Median Home Value	Net Tax, Twice the Median Home Value
010 - PENN TWP	2.1834	673	30.5711	206	468	12.7153	59	408	1,863	184	1,288
011 - PENNVILLE TOWN	2.8583	882	28.6309	252	629	15.3656	97	533	1,543	240	1,681
014 - DUNKIRK CITY	3.6532	1,127	27.2941	308	819	17.1849	141	678	1,034	306	2,142
020 - BEARCREEK TWP	2.2114	682	30.2348	206	476	12.5520	60	416	1,842	188	1,314
021 - BRYANT TOWN	2.5480	786	29.2380	230	556	14.1292	79	478	1,719	216	1,508
022 - GREENE TWP	2.1836	674	30.3743	205	469	12.4553	58	411	1,857	185	1,296
023 - JACKSON TWP	2.2062	680	30.2748	206	474	12.5530	60	415	1,846	187	1,310
024 - JEFFERSON TWP	2.1820	673	30.3792	204	469	12.4454	58	410	1,858	185	1,295
025 - KNOX TWP	2.1852	674	30.3634	205	469	12.4572	58	411	1,856	185	1,297
026 - MADISON TWP	2.2043	680	30.0571	204	476	12.2458	58	417	1,838	188	1,317
027 - SALAMONIA TOWN	2.3385	721	29.9723	216	505	13.4024	68	437	1,803	197	1,381
028 - NOBLE TWP	2.1918	676	30.3082	205	471	12.4515	59	412	1,853	186	1,302
029 - PIKE TWP	2.1900	675	30.3564	205	470	12.4971	59	412	1,855	186	1,300
030 - RICHLAND TWP	2.2162	684	30.2160	207	477	12.5749	60	417	1,839	188	1,317
031 - REDKEY TOWN	3.1676	977	27.9108	273	704	16.0299	113	591	1,346	267	1,867
032 - WABASH TWP	2.1986	678	30.2768	205	473	12.4789	59	414	1,851	187	1,306
033 - WAYNE TWP	2.2162	684	30.2224	207	477	12.5836	60	417	1,840	188	1,316
034 - PORTLAND CITY	3.3053	1,019	27.2498	278	742	15.7744	117	625	1,252	282	1,972
Note:  Median Home Value for this county is from the 2000 U.S. Census.
Assessment-Sales Ratio is the median assessment to sales price ratio, from the State Equalization Study.
Counties with Assessment-Sales Ratios listed as "0" have studies that are incomplete.  Gross assessed values are assumed equal to home values.
Gross Assessed Value is the product of the Median Home Value and the Assessment Ratio.
Net Assessed Value is Gross Assessed Value less Deductions/Exemptions. Homestead deduction cannot exceed 50% of gross assessed value.
Tax Districts are areas within a county with particular combinations of government units.  The district Tax Rate is the sum of the tax rates of these units.
Gross Tax is the District Tax Rate times Net Assessed Value.
Property Tax Replacement Credit Dollars are the PTRC Rate times the Gross Tax; they are subtracted from the Gross Tax.
The Homestead Credit Rate is multiplied by the Tax After PTRC.  Homestead Credit dollars are subtracted from Tax After PTRC to get the Tax Bill.
Rank, All Districts is the rank, from highest to lowest net tax, among all of Indiana's 1,960 tax districts.
Net Tax, Half the Median Value is the tax bill calculation starting with a home value equal to half the county's median.
Net Tax, Twice the Median Value is the tax bill calculation starting with a home value equal to twice the county's median.
Prepared by Larry DeBoer, Agricultural Economics, Purdue University, using Indiana Department of Local
Government Finance rate information, available on the DLGF website, at www.in.gov/dlgf.