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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 />2002-2018 Net Tax Capacity <br />Classification <br />Est. Mkt. Value <br />% of FCMV <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 $500,000 <br />1.00% <br />Over $76,000 <br />1.66% <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 J <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 $160,000 <br />2.00% <br />$2 ,500 <br />$2,000 <br />$1 ,500 <br />$1,000 <br />$500 <br />$0 <br />CITY PROPERTY TAXES <br />(no change in ESTIMATED market value) <br />$150,0001$126,260 $250,0D01$235,260 $350,0001$344,260 $450,0001$450,OM $550,00015550,000 <br />TAXABLE MARKET VALUE <br />(ACTUAL 2013 â– ACTUAL 2014 GACTUAL 2015 MACTUAL 2016 OACTUAL 2017 ACTUAL 2018 <br />61 <br />