How are my tax savings calculated?
For the tax year in question, subtract the property’s final assessed value (after the protest hearing) from its initial noticed value. Then, multiply the difference by the previous year’s total tax rate. The resulting number equals the amount of tax savings.
For example, if the initial assessed value is $100,000 and the final assessed value achieved by O’Connor is $90,000, and your tax rate is 3 percent, property taxes saved are $300.