Form Dte 140m-W5 - Worksheet To Calculate Tax Rate For Form Dte 140m
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DTE 140M-W5
Rev. 8/08
O.R.C. §5705.03(B)
Worksheet to Calculate Tax Rate for Form DTE 140M
When a Taxing Authority Certifies an Amount of Revenue and Requests
a Rate for All School Substitute Levies
Calculation of Millage Rate
1. Tax valuation on the tax list most recently certified for collection:
1a. Class I Real – Res/Ag
$ _____________
1b. Class II Real – Other
$ _____________
1c. Public Utility Personal
$ _____________
1d. General Personal
$ _____________
2. Total Valuation
$ _____________
3. Revenue Requested
$ _____________
4. Personal Property Phase-out Reimbursement Payment
$ _____________
5. Revenue to be Charged as Tax
$ _____________
6. Millage Rate
______ . _____
Instructions
Line 1a. Enter tax valuation of all class I real property (residential and agricultural property) as indicated on the tax
list most recently certified for collection.
Line 1b. Enter tax valuation of all class II real property (all other real property) as indicated on the tax list most
recently certified for collection.
Line 1c. Enter the estimated valuation of public utility personal property for the first year the substitute levy will
be charged. To determine the correct public utility valuation, please refer to the values in the school district
spreadsheet available at:
Note: public utility personal property taxes are assessed at the same time as real property taxes. Beginning in
2007 telecommunications property will be taxed as general business personal property. The public utility values
in the spreadsheets reflect the shift of telecommunications property to general business property.
Line 1d. Enter the estimated valuation of all general personal property for the first year the substitute levy will be
charged. Note: if the first year for which the levy will be assessed against real property is tax year 2008, then the
first tax year that levy will be assessed against personal property will be 2009. Since telecommunications
companies are the only general businesses that are still liable for the personal property tax, and then only for tax
years 2009 and 2010, only the estimated values of telecommunications property should be used to compute this
average. No entries should be made on this line for levies that will first be effective for real property for tax year
2010 or thereafter.
Line 2. Add lines 1a through 1d and place total here.
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