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STATUTORY FORMULAE CONVERSION OF ESTIMATED MARKET VALUE (EMV) TO NET TAX <br />CAPACITY FOR MAJOR PROPERTY CLASSIFICATIONS <br />General 2001 Net Tax Capacity 2002-2014 Net Tax Capacity <br />Classification Est. Mkt. Value % of EMV Est. Mkt. Value % of EMV <br />RESIDENTIAL <br />Homestead <br />First $76,000 <br />1.00% <br />First $500,000 <br />1.00% <br />Over $76,000 <br />1.65% <br />Over $500,000 <br />1.25% <br />Non -Homestead <br />First $76,000 <br />1.20% <br />First $500,000 <br />1.00% <br />Over $76,000 <br />1.65% <br />Over $500,000 <br />1.25% <br />AGRICULTURAL <br />LAN D: <br />Homestead <br />First $115,000 <br />0.35% <br />First $600,000 <br />0.55% <br />$115,000-$600,000 <br />0.80% <br />Over $600,000 <br />1.00% <br />Over $600,000 <br />1.20% <br />Non -Homestead <br />100% of EMV <br />1.00% <br />100% of EMV <br />1.00% <br />COMMERCIAL / <br />INDUSTRIAL First $150,000 2.40% First $150,000 1.50% <br />Over $150,000 3.40% Over $150,000 2.00% <br />$2,000 <br />$1,800 <br />$1,600 <br />$1,400 <br />$1,200 <br />$1,000 <br />$800 <br />$600 <br />$400 <br />$200 <br />$0 <br />CITY PROPERTY TAXES <br />(no change in ESTIMATED market value) <br />4110UNUU41 If, lit �ZbU,000i$235,260 $350,000/$344,260 $450,0001$450,000 $550,000/$550,000 <br />TAXABLE MARKET VALUE <br />MACTUAL2010 13ACTUAL2011 BACTUAL2012 MACTUAL2013 13PROPOSED2014 <br />61 <br />i <br />