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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 CLAS'..,. ,CATION RATE CHANGES
<br />
<br />Estimated Property Tax Data Based on Approved Proposed Maximum Tax Levy
<br />
<br />Market NTC Tax Rate Property Tax Increase
<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 />14
<br /> 7
<br /> 7
<br /> 6
<br /> 6
<br /> 1
<br />
<br />7.82%
<br />3.67%
<br />2.13%
<br />1.46%
<br />0.84%
<br />0.06%
<br />
<br />100,000 3,000 2,700 24.683% 26.613% 740 719 (22) -2.96%
<br />150,000 5,300 4,050 24.683% 26.613% 1,308 1,078 (230) -17.61%
<br />250,000 9,900 8,050 24.683% 26.613% 2,444 2,142 (301) -12.33%
<br />500,000 21,400 18,050 24.683% 26.613% 5,282 4,804 (479) -9.06%
<br />1,000,000 44,400 38,050 24.683% 26.613% 10,959 10,126 (833) -7.60%
<br />2,000,000 90,400 78,050 24.683% 26.613% 22,313 20,771 (1,542) -6.91%
<br />
<br />Classification
<br />
<br />Estimated Property Tax Data Based on 3% INCREASE IN TAX RATE
<br /> Market NTC Tax Rate. Property Tax
<br /> Value 1997 1998 1997 1998 1997. 1998
<br />
<br />Homestead Residential
<br />
<br />72,000 720 720 24.683% 25.407% 178 183
<br />75,000 780 750 24.683% 25.407% 193 191
<br />100,000 1,280 1,213 24.683% 25.407% 316 308
<br />125,000 1,780 1,675 24.683% 25.407% 439 426
<br />175,000 2,780 2,600 24.083% 25.407% 686 661
<br />500,000 9,280 8,613 24.683% 25.407% 2,291 2,188
<br />
<br />Increase
<br />
<br />Commercial/Industrial
<br />(single parcel owner -
<br />applicable to 1997 only)
<br />
<br />100,000 3,000 2,700 24.683% 25.407% 740 686
<br />150,000 5,300 4,050 24.683% 25.407% 1,308 1,029
<br />250,000 9,900 8,050 24.683% 25.407% 2,444 2,045
<br />500,000 21,400 18,050 24.683% 25.407% 5,282 4,586
<br />1,000,000 44,400 38,050 24.683% 25.407% 10,959 9,667
<br />2,000,000 90,400 78,050 24.683% 25.407% 22,313 19,830
<br />
<br /> 5
<br /> (2)
<br /> (8)
<br /> (14)
<br /> (26)
<br />(102)
<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 /> (55)
<br />(279)
<br />(398)
<br />(696)
<br />(1,292)
<br />(2,483)
<br />
<br />2.93%
<br />-1.03%
<br />-2.49 %
<br />-3.14%
<br />-3.73%
<br />-4.47 %
<br />
<br /> -7.36%
<br />-21.34%
<br />-16.30%
<br />-13.18%
<br />-11.79%
<br />-11.13%
<br />
<br />11/25/97 Page 1
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