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Memo <br />City Council <br />2012 Proposed Final Budget and Tax Levy <br />4 <br />As previously noted, you now must account for the new MVE which reduces the taxable value of <br />the City as the new program "excludes" a portion of the taxable value of qualifying homesteaded <br />property. We also use a 0% increase to calculate this effect. <br />Pay 2011 MV I 76,000�.40%a � I <br />X0.988 remupto413799�.09 (D-E) <br />Estimated Tax District rate as % of total rate: <br />'�� �150 DOQ� 23,740 126,260 <br />12.688 I 260,112 <br />740 <br />The net effect on the residential taxpayer 2012 will be as follows: <br />($1.16) $ (0.10; <br />$10.22 $ 0.85 <br />$17.54 $ 1.46 <br />$25.61 $ 2.13 <br />$44.09 $ 3.67 <br />Taxable Before Legislati�e Change <br />VaIUG' Impact from Maricet Shifts Impact from Legislati�e Chg Total Change <br />B/4 CI'edlt 'Annual Increase Monthly incr. Annual lncrease Monthly incr. Annual Increase Monthly incr. <br />150,000 ($2.33 ($0.19) $1.17 $0.10 ($1.16) $ (0.10) <br />272,800 ($4.06) ($0.34) $14.28 $1.19 $10.22 $ 0.85 <br />350 000 $5.18 $0.43 ' $22.72 $1.89 $17.54 $ 1.46 <br />500 000 $10.04 $0.84 $35.65 $2.97 $25.61 $ 2.13 <br />750,000 ($13.84) ($1.15) $57.93 $4.83 $44.09 $ 3.67 <br />500,000�1.0 % (87 x G) + (87 x G) + Total Change <br />rem @ 1.25% (B12 x D) (B12 x D) Annual Increase Monthlv incr. <br />