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TAX CAPACITY <br />(Your Property) <br />11/15/2011 <br />TAX CAPACITY <br />Tax capacity is the value that is used <br />in determining "how much" <br />property taxes are paid to each <br />taxing jurisdiction. <br />The tax capacity value is multiplied by <br />the tax rate imposed by all taxing <br />jurisdictions (includes City, County, <br />School District and special taxing <br />districts) <br />TAX CAPACITY `OLD" <br />(Homestead Residential) <br />Tax capacity used to be calculated by <br />multiplying the taxable market <br />value by the property class rate. <br />The result, taxable tax capacity, <br />was then multiplied by the tax rates <br />to arrive at the gross property tax. <br />The homestead market value credit <br />was then applied for properties <br />valued under $413,800. <br />Page 10 of 50 <br />