How Taxes are Calculated

Established mill rate factors so that there is no tax shift between residential and non-residential properties.

1.  Mill Rate Factors be applied to the local property classes as follows:
a) Agricultural                                                       1.00
b) Residential                                                        0.65
c) Commercial and Industrial                             1.95

2.  Minimum tax be applicable as follows:
a) Residential land with improvements:    $0,995.00
b) Commercial land with improvements:  $1,460.00
c) Residential classed land only:                  $0,500.00
d) Commercial classed land only:                $0,730.00

3.  Base Tax as follows:
a) Residential                                                               $230.00
b) Commercial                                                             $230.00

Each year, the Town sets the tax rate, also called mill rate. A mill equals 1/10th of one cent.  All residential and commercial property in Gull Lake is assessed.  Currently, the mill rate and mill rate factor are multiplied by the taxable assessment to determine taxes.  The minimum tax is applicable only to the municipal portion of property taxes:

(Taxable Assessment x  Mill Rate x Mill Rate Factor + Base Tax) + (School Tax) = Taxes

For a home with a fair value assessment of $200,000, the taxable assessment would be $140,000, at the 2016 mill rate of 12.73 (town) and 5.03 (public school) the total taxes would be:

($140,000 x 12.73 x 0.65 + $230)(municipal) + ($140,000 x 5.03)(school)

$1,158.43 (municipal) + $704.20 (school) + $230.00 (Base Tax)= $2,092.63

Please Note: As of January 2013 discounts are no longer applicable to Education Property Tax. For more information on Education Property Tax got to

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