Which of the following is NOT included in the total tax rate calculation?

In the context of property tax calculations, the total tax rate is comprised of various components that directly impact the amount of tax levied on property owners. Local option levies, bond levies, and urban renewal special levies are all forms of tax assessments that contribute to the funding of local services and infrastructure, thus becoming part of the overall tax rate.

Local option levies allow municipalities to impose additional taxes for specific local needs. Bond levies typically fund capital projects like building schools or infrastructure improvements, and urban renewal special levies are aimed at revitalizing specific areas, addressing blight, or promoting economic development. Each of these elements is included in the calculation because they represent legitimate tax liabilities that property owners are responsible for.

In contrast, property size is not a component of the total tax rate calculation itself. While the size of a property may affect its assessed value, which in turn influences the total amount of property taxes owed, it does not directly factor into the formulation of the tax rate. The tax rate is expressed as a per-thousand value (for example, dollars per $1,000 of assessed value) and is thus driven more by legislative decisions and funding needs rather than by the dimensions or characteristics of individual properties. This distinction clarifies