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Classification
<br />Homestead Residential
<br />
<br />Commercial/Industrial
<br />(single parcel owner -
<br />applicable to 1997 only)
<br />
<br /> THE IMPACT OF CLASSIr ,..ATION RATE CHANGES
<br />
<br />Estimated Property Tax Data Based on Approved Proposed Maximum Tax Levy
<br />
<br />Market NTC Tax Rate Property Tax
<br /> Value 1997 1998 1997 1998 1997 1998
<br />
<br />72,000 720 720 24.683% 26.613% 178 192
<br />75,000 780 750 24.683% 26.613% 193 200
<br />100,000 1,280 1,213 24.683% 26.613% 316 323
<br />125,000 1,780 1,675 24.683 % 26.613% 439 446
<br />175,000 2,780 2,600 24.683% 26.613% 686 692
<br />500,000 9,280 8,613 24.683% 26.613% 2,291 2,292
<br />
<br />Increase
<br />
<br />100,000 3,000 2,700 24.683% 26.613% 740 719 (22)
<br />150,000 5,300 4,050 24.683% 26.613% 1,308 1,078 (230)
<br />250,000 9,900 8,050 24.683% 26.613% 2,444 2,142 (301)
<br />500,000 21,400 18,050 24.683% 26.613% 5,282 4,804 (479)
<br />1,000,000 44,400 38,050 24.683% 26.613% 10,959 10,126 (833)
<br />2,000,000 90,400 78,050 24.683% 26.613% 22,313 20,771 (1,542)
<br />
<br /> -2.96%
<br />-17.61%
<br />-12.33%
<br />-9.06%
<br />-7.60%
<br />-6.91%
<br />
<br />Classification
<br />
<br />Estimated Property Tax Data Based on CONSTANT Tax Rate
<br /> Market NTC Tax Rate Property Tax
<br /> Value 1997 1998 1 997 1998 1997 1998
<br />
<br />Homestead Residential
<br />
<br />72,000 720 720 24.683% 24.683% 178 178
<br />75,000 780 750 24.683% 24.683% 193 185
<br />100,000 1,280 1,213 24.683% 24.683% 316 299
<br />125,000 1,780 1,675 24.683% 24.683% 439 413
<br />175,000 2,780 2,600 24.683% 24.683% 686 642
<br />500,000 9,280 8,613 24.683% 24.683% 2,291 2,126
<br />
<br />Increase
<br />
<br />Commercial/Industrial
<br />(single parcel owner -
<br />applicable to 1997 only)
<br />
<br /> 0
<br /> (7)
<br /> (17)
<br /> (26)
<br /> (44)
<br />(165)
<br />
<br />100,000 3,000 2,700 24.683% 24.683% 740 666 (74)
<br />150,000 5,300 4,050 24.683% 24.683% 1,308 1,000 (309)
<br />250,000 9,900 8,050 24.683% 24.683% 2,444 1,987 (457)
<br />500,000 21,400 18,050 24.683% 24.683% 5,282 4,455 (827)
<br />1,000,000 44,400 38,050 24.683% 24.683% 10,959 9,392 (1,567)
<br />2,000,000 90,400 78,050 24.683% 24.683% 22,313 19,265 (3,048)
<br />
<br />This data shows how the changes in the classification rates affect the taxes on individual properties. Because of the decreases
<br />in the class rates for commercial/industrial and higher value residential properties, lower value homes will experience
<br />an increase in taxes while other properties' taxes decrease.
<br />Changes in assessed value would affect the amount of tax paid and the percent change.
<br />
<br />0.00%
<br />-3.85%
<br />-5.27 %
<br />-5.90%
<br />-6.47 %
<br />-7.19%
<br />
<br />-10.00%
<br />-23.58 %
<br />-18.69%
<br />-15.65%
<br />-14.30%
<br />-13.66%
<br />
<br />10/22/97 Page 1
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