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It is expected that this tax levy amount will be within the levy <br />limitation for 1989, based on our understanding of the levy limit <br />calculation process. <br />Because of the new tax law changes, there is some confusion <br />between the County and State as to what the final results will <br />be. We have made the usual comparisons on the best available <br />information. However, we do need to be aware that the final <br />results could be slightly different than what is being <br />projected. County o£ficials indicate that it may be September or <br />even later before the final Tax Capacity valuations are known. <br />Based on the best estimates at this time, the 1989 Budget will <br />result in a$4.22, or 1.80 percent, decrease in the gross city <br />taxes on an average valued home ($82,000) in Roseville. Gross <br />city taxes on a$100,000 home will decrease $21.10, or 7.10 <br />percent. The net taxes to the property owners will be different <br />due to homestead and other state credits. <br />The following table does provide a comparison for certain <br />Roseville homes and smaller commercial\industrial properties. <br />Prooerty Tax Comparison on Selected Values <br />1988 <br />Est. Market Value <br />Assessed Value (New <br />Tax Capacity) <br />Mill Rate <br />Gross Tax <br />Est. Market Value <br />Tax Capacity (Old <br />Assessed Value) <br />Tax Capacity Rate <br />Gross Tax <br />Percent of <br />increase (decrease) <br />Dollar Increase <br />(Decrease) <br />Home <br />Value <br />$82,000 <br />15,340 <br />14.5635 <br />$ 223.40 <br />Home <br />Value <br />$82,000 <br />1,826 <br />12.0034% <br />$219.18 <br />( 1.80) <br />(4.22) <br />Home <br />Value <br />$100,000 <br />20,200 <br />14.5635 <br />$294.18 <br />1989 <br />Home <br />Value <br />$100,000 <br />2,275 <br />12.00340 <br />$ 273.08 <br />(7.10) <br />(21.10) <br />ii <br />Home <br />Value <br />$125,000 <br />26,950 <br />14.5635 <br />$392.49 <br />Home <br />Value <br />$125,000 <br />3,100 <br />12.0034% <br />$372.10 <br />(5.10) <br />(20.39) <br />C/ I <br />Value <br />$100,000 <br />34,000 <br />14.5635 <br />$495.16 <br />C/I <br />Value <br />$100,000 <br />3,300 <br />12.0034% <br />$396.11 <br />( 20.01) <br />(99.05) <br />