All real estate is valued as of February 1st of each year. Any change in assessment that results in a 10% increase and a $3,000 assessed value increase requires that the owner be contacted. The county then calculates taxes for each parcel based on budgeted needs of government entities. The local governments’ operating revenue is determined by the elected officials and local needs approved by the governing board. Once the yearly budget is defined, it is divided by the taxable value to obtain the mill levy which is then applied to each parcel to determine the tax liability.