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<br />'t <br /> <br />Column H-230,000 <br /> <br />This number is the total of all homestead property tax capacity (not market value of the <br />properties) in your city times 4%. The number is calculated and supplied by your County <br />Auditor. Why 4%7 Since all higher priced homes will have a value above $72,000, then <br />their tax capacity would be at 2%. However, since the program doubles the market value <br />to arrive at the base value, then the tax capacity on the homestead tax capacity should also <br />be doubled or 4% (2% x 2 = 4%). <br /> <br />Column 1-57,500.00 <br /> <br />This number is the result of multiplying the 4% Homestead Tax Capacity (Column H) <br />times your city's local tax rate (Column K). <br /> <br />Column J-12,500.00 <br /> <br />This column is the lower of Column G or Column I. Simply stated it represents the <br />calculated extra property taxes your city receives from these higher priced houses. In some <br />cases these extra property taxes may be the 4% Homestead Tax Capacity number (Column <br />J) rather than the Excess Growth number (Column G). In those instances, the growth of' <br />high priced homes is faster that 4% of the net tax capacity for the city. <br /> <br />Column K-25.000 0/0 <br /> <br />This is your city's local tax rate for 2001 as certified by your County Auditor. <br /> <br />Column L-12,500.00 <br /> <br />This is the same as Column J. It represents the Affordable Life-Cycle Housing <br />Opportunities Amount for 2001. <br /> <br />Column M-125 <br /> <br />This is the actual number of higher priced homes that had values above the 2000 hurdle <br />rate. <br /> <br />Column N-150 <br /> <br />This is the actual number of higher priced homes that had values above the hurdle rate for <br />2001. <br />