Lebanon Property Tax Data & Calculations

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A. City of Lebanon Pay 2010 Property Tax Rates

(Source: the published Notice To Taxpayers certified by the Boone County Auditor)

All Lebanon property owners (both Center Township and Perry Township residents) have the following Pay 2010 property tax rates (per $100 of adjusted net assessed valuation): $0.2126 Total Boone County Rate, $1.1242 Total Lebanon Community School Corporation Rate, $0.5795 Total City of Lebanon Rate.

Lebanon's Center Township property owners also have a $0.0274 Total Center Township Rate and a $0.1259 Total Lebanon Public Library Rate.

Lebanon's Perry Township property owners also have a $0.0055 Total Perry Township Rate.

Lebanon Center Township property owners Pay 2010 Total Property Tax Rate = $0.2126 + $1.1242 + $0.5795 + $0.0274 + $0.1259 = $2.0696

Lebanon Perry Township property owners Pay 2010 Total Property Tax Rate = $0.2126 + $1.1242 + $0.5795 + $0.0055 = $1.9218

B. City of Lebanon Pay 2010 Adjusted Net Assessed Valuation

(Source: the Certificate Of Net Assessed Valuations from the Boone County Auditor)

The Pay 2010 adjusted net assessed valuation for Lebanon's Center Township property owners is $644,707,596

The Pay 2010 adjusted net assessed valuation for Lebanon's Perry Township property owners is $12,470,064.

C. City of Lebanon Pay 2010 Total Property Tax Payments

Boone County = ($0.2126) ($644,707,596 + $12,470,064 / $100) = $1,397,160

Lebanon Community School Corporation = ($1.1242) ($644,707,596 + $12,470,064 / $100) = $7,387,991

City of Lebanon = ($0.5795) ($644,707,596 + $12,470,064 / $100) = $3,808,345

Center Township = ($0.0274) ($644,707,596 / $100) = $176,650

Lebanon Public Library = ($0.1259) ($644,707,596 / $100) = $811,687

Perry Township = ($0.0055) ($12,470,064 / $100) = $686

Total Property Tax Payments = $1,397,160 + $7,387,991 + $3,808,345 + $176,650 + $811,687 + $686 = $13,582,519

D. City of Lebanon Pay 2010 Total Property Tax Rate WITHOUT the I-65 Annexation

(Note: the estimated Adjusted Net Assessed Valuation of all the annexed Center Township property owners is $9,894,679)

Boone County Property Tax Rate = $0.2126

Lebanon Community School Corporation Property Tax Rate = $1.1242

City of Lebanon Property Tax Rate (without Excess Property Tax Levy due to Annexation) = ($3,330,962) ($100) / ($644,707,596 - $9,894,679) = $333,096,200 / $634,812,917 = $0.5247

Center Township Property Tax Rate = $0.0274

Lebanon Public Library Property Tax Rate = $0.1259

Total Property Tax Rate = $0.2126 + $1.1242 + $0.5247 + $0.0274 + $0.1259 = $2.0148

E. Center Township Annexed Property Owners Pay 2010 Total Property Tax Rate WITHOUT the Lebanon I-65 Annexation

(Note: the estimated Adjusted Net Assessed Valuation of all the annexed Center Township property owners is $9,894,679)

[Note: the Center Township Firefighting Pay 2010 Total Property Tax Revenue = ($0.1742) ($152,015,937 / $100) = $264,812]

Boone County Property Tax Rate = $0.2126

Lebanon Community School Corporation Property Tax Rate = $1.1242

Center Township Property Tax Rate = $0.0133 + $0.0141 + ($264,812) ($100) / ($152,015,937 + $9,894,679) = $0.0133 + $0.0141 + ($26,481,200 / $161,910,616) = $0.0133 + $0.0141 + $0.1636 = $0.1910

Lebanon Public Library Property Tax Rate = $0.1259

Total Property Tax Rate = $0.2126 + $1.1242 + $0.1893 + $0.1259 = $1.6520

F. Perry Township Annexed Property Owners Pay 2010 Total Property Tax Rate WITHOUT the Lebanon I-65 Annexation

[Note: the Perry Township Firefighting Pay 2010 Total Property Tax Revenue = ($0.0552) ($58,463,416 / $100) = $32,272]

Boone County Property Tax Rate = $ 0.2126

Lebanon Community School Corporation Property Tax Rate = 1.1242

Perry Township Property Tax Rate = $0.0036 + $0.0019 + ($32,272) ($100) / ($58,463,416 + $12,470,064) = $0.0036 + $0.0019 + ($3,227,200 / $70,933,480) = $0.0036 + $0.0019 + $0.0455 = $0.0510

Total Property Tax Rate = $0.2126 + $1.1242 + $0.0510 = $1.3878

G. Lebanon Excess Property Tax Levy due to Annexation

Pay 2010: $447,383

Pay 2011: $477,383

Pay 2012: $477,383

Pay 2013: $477,383

Pay 2010 City of Lebanon Total Property Tax Payments WITHOUT Excess levy = $3,808,345 - $477,383 = $3,330,962

Pay 2010 City of Lebanon Total Property Tax Payments would be 12.54% LESS without the Excess Levy = ($477,383 / $3,808,345) (100)

H. Lebanon Business Park TIF District (from the Boone County Auditor)

Pay 2010 Property Tax Rate = $2.0696 per $100 of Adjusted Net Assessed Valuation

Pay 2010 Real Property Adjusted Net Assessed Valuation = $57,964,330

Pay 2010 Business Personal Property Adjusted Net Assessed Valuation = $7,694,050

Pay 2010 TIF Revenue = ($2.0696) ($57,964,330 + $7,694,050 / $100) = $1,358,866

I. Pay 2010 Lebanon Property Tax Rates if Lebanon Business Park TIF District Eliminated

(Computation data from Notice To Taxpayers and Certificate Of Net Assessed Valuations)

Boone County = ($0.1241) ($3,628,242,211 / $100) / ($3,628,242,211 + $57,964,330 + $7,694,050 / $100) = $4,502,649 / 36,939,006 = $0.1219

Lebanon Community School Corporation = ($1.1242) ($152,015,937 + $58,463,416 + $57,712,853 + $644,707,596 + $9,104,654 + $60,089,328 + $60,530,807 + $12,470,064 / $100) / ($1,055,094,655 + $57,964,330 + $7,694,050 / $100) = $11,861,374 / 11,207,530 = $1.0583

City of Lebanon = ($0.5795) ($644,707,596 + $12,470,064 / $100) / ($657,177,660 + $57,964,330 + $7,694,050 / $100) = $3,808,345 / 7,228,360 = $0.5269

Center Township = ($0.0274) ($152,015,937 + $644,707,596 + $9,104,654 / $100) / ($805,828,187 + $57,964,330 + $7,694,050 / $100) = $220,797 / 8,714,866 = $0.0253

Lebanon Public Library = ($0.1259) ($152,015,937 + $644,707,596 + $9,104,654 / $100) / ($808,828,187 + $57,964,330 + $7,694,050 / $100) = $1,014,538 / 8,744,866 = $0.1160

Perry Township = ($0.0055) ($58,463,416 + $60,530,807 + $12,470,064 / $100) / ($131,464,287 + $57,964,330 + $7,694,050 / $100) = $7,231 / 1,971,227 = $0.0037

Lebanon Center Township property owners Pay 2010 Total Property Tax Rate = $0.1219 + $1.0583 + $0.5269 + $0.0253 + $0.1160 = $1.8484

Lebanon Perry Township property owners Pay 2010 Total Property Tax Rate = $0.1219 + $1.0583 + $0.5269 + $0.0037 = $1.7108

Lebanon Center Township property owners Pay 2010 Total Property Tax Rate REDUCTION = ($2.0696 - $1.8484) (100) / $2.0696 = 10.69%

Lebanon Perry Township property owners Pay 2010 Total Property Tax Rate REDUCTION = ($1.9218 - $1.7108) (100) / $1.9218 = 10.98%

This page was last updated on 09/02/10 .