Rate Breakdown

Property taxes in Boone County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Boone County

Property tax in Boone County is determined through a two‑step process: assessment of the home value followed by the application of the county’s millage rates. The County Appraisal District (CAD) evaluates each parcel annually, using a combination of market sales data, assessment reports, and in‑person inspections. The assessed value is expressed as a percentage of the replacement cost, generally between 70% and 90%, representing the amount of the property that the county considers "taxable".

Once the assessed value is finalized, the county applies the composite millage rate. Millages are expressed in mills (one mill equals one‑tenth of a cent) and reflect the total taxes the county, school district, township, and other taxing bodies want to collect per dollar of assessed value. Boone County’s current total millage rate is approximately 28.24 mills. That means a home with an assessed value of $200,000 would owe roughly $5,648 in property tax ($200,000 × 28.24 ÷ 1,000). If a parcel is located in a township or school district with additional special districts, those rates are added on top of the county rate.

Available Exemptions

• Homestead Exemption: Eligible primary residences receive a credit that reduces the taxable amount. For Boone County, the standard homestead exemption is up to $1,600 in tax credit for most homeowners, though the actual benefit may vary based on the assessed value and the homeowner’s income level.
• Senior Citizen Exemption: Homeowners aged 65 or older with qualifying income may qualify for a 12%–20% reduction on their taxable value, subject to state and county limits.
• Disability Exemption: Persons with a severe disability may receive a 15%–20% credit against their tax bill. Proof of disability status and documentation of the disability are required.
• Veteran Exemptions: Disabled veterans, veterans who served in specific conflicts, or those not otherwise qualified for the full 100% exemption may receive a credit of up to 50% on their taxable value. Veterans with a full disability rating (95% or higher) are eligible for full exemption from county property tax.

All exemptions are administered by the CAD. Homeowners should file an exemption application no later than March 15th each year to avoid missing out on available credits.

Payment Schedule & Deadlines

Boone County allows property taxes to be paid in either a single annual payment or two installments. The typical schedule is:

• First payment: Due on April 30th. If paid on or before this date, a 1‑month discount applies.
• Second payment: Due on October 30th. The second installment may also be saved when paid on time.

Paying the full amount by the first deadline results in a one‑month early‑payment discount of approximately $150 for a $5,000 tax bill. Late payments accrue a penalty of 2% per month, and after 60 days, a 5% additional penalty and the dollar amount of missed taxes is added to the account balance, making the total payable significantly higher.

Appealing Your Assessment

If you believe the assessed value of your property is too high, Boone County provides a formal appeals process. The steps are:

• Step 1: File a Notice of Appeal. Submit the form (available on the CAD website) within 30 days of the notice of assessment. Attach any supporting documentation such as recent sales data, appraisal reports, or photographs.
• Step 2: Set a Hearing Date. The CAD will schedule a hearing, typically within 30–45 days. You can request a preliminary hearing certificate if you need to present evidence early.
• Step 3: Attend the Hearing. Bring all evidence and be prepared to explain why the assessment should be lowered. An appraisal examiner and a hearing judge will review your case.
• Step 4: Receive the Decision. You will receive a written decision within 6–10 weeks. If you disagree with the outcome, you can appeal to the Department of Local Government Services within 30 days.

Preparing thorough documentation and meeting all deadlines increases your chances of a favorable decision.