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STATUTORY FORMULAE CONVERSION OF ESTIMATED MARKET VALUE (EMV) TO NET TAX <br />CAPACITY FOR MAJOR PROPERTY CLASSIFICATIONS <br />General <br />2001 Net Tax Capacity <br />2002-2023 Net Tax Capacity <br />Classification <br />Est. Mkt. Value <br />% of EMV <br />Est. Mkt. Value <br />% 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 $600,000 <br />1.00% <br />Over$76,000 <br />1.65% <br />Over $500,000 <br />1.25% <br />AGRICULTURAL <br />LAND: <br />Homestead <br />First $115,000 <br />0.35% <br />First $600,000 <br />0.55% <br />$115,0004600,000 <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 <br />First $150,000 <br />2.40% <br />First $150,000 <br />1.50% <br />Over $150,000 <br />3.40% <br />Over $150,000 <br />2.00% <br />CITY PROPERTY TAXES <br />(no change in ESTIMATED market value) <br />$2.500 <br />$2,000 <br />$1,500 <br />$1.000 <br />$500 <br />$0 <br />$150,000,$126,260 $250,0001$235,260 $350,0001$344,260 $450,0004,150,000 $550,0001$550,000 <br />TAXABLE MARKET VALUE <br />GACTUAL Na ACTa 321 oAC m"n AOFM 20YL <br />B1 <br />