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<br /> . <br /> City of Arden Hills <br /> Truth in Taxation Public Hearing Slide <br /> , December j:~~ <br /> ...., \ <br /> How Your City Property Taxes are Determined <br /> Box 1 Box 4 <br /> Total Assessor's <br /> Proposed City Market Value <br /> Budget <br /> - minus X times <br /> Box 2 Box 5 <br /> All Non-Prope State <br /> Tax Revenue,eg: Mandated <br /> * State Aid Class Rates <br /> * Fees,etc. <br /> = equals = equals <br /> Box 3 Box 6 <br /> Property Tax Total <br /> Revenue Needed divided by . Tax Capacity. <br /> , ( Levy ) (Formerly Assessed <br /> Value) <br /> = equals <br /> Box 7 <br /> Property <br /> Tax <br /> Rate <br /> ("Tax Capacity" Rate) <br /> PROPERTY TAX EQUALS: <br /> Your Property's Market Value X Class Rate(s) X ''Tax Capacity" Rate Less ~) <br /> Educ. Homestead Credit (neWf~ at 32% of ~~1,gen tax up to $225) 4-_"'7;' qq~ <br /> , <br /> TAX COMPUTATI N XAMPLE: <br /> Median market value home in Arden Hill s $146,300. l'1b/l5'O <br /> Tax Capacity on this home for payable t~'921.05 <br /> ($75,000*.01=$750.00)+($65,300*. $, .' =~,elI.05-1~)/- 'tS <br /> Tax Capaci . . times . Tax Rate (. ., O~) <br /> e uals . taxes 372. $:i:he8 er month for Slide No. 7 ur oses. <br /> f S7r, ~/. () <br /> . Slide No. 2 <br />