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THE TAX RATE IMPACT OF
$20,701,244 BOND SALE |
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Market |
1/3 |
Less $5000 |
Tax Rate |
Per |
Annual |
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Value |
Market |
Homeowner |
Increase |
$1,000 |
Cost |
Monthly |
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Value |
Exemption |
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After |
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(EAV) |
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Exemption |
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$75,000 |
$25,000 |
$20,000 |
15¢ |
0.0015 |
$30.00 |
$2.50 |
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$100,000 |
$33,333 |
$28,333 |
15¢ |
0.0015 |
$42.50 |
$3.54 |
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$120,000 |
$40,000 |
$35,000 |
15¢ |
0.0015 |
$52.50 |
$4.38 |
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$150,000 |
$50,000 |
$45,000 |
15¢ |
0.0015 |
$67.50 |
$5.63 |
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$180,000 |
$60,000 |
$55,000 |
15¢ |
0.0015 |
$82.50 |
$6.88 |
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$200,000 |
$66,667 |
$61,667 |
15¢ |
0.0015 |
$92.50 |
$7.71 |
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$210,000 |
$70,000 |
$65,000 |
15¢ |
0.0015 |
$97.50 |
$8.13 |
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$250,000 |
$83,333 |
$78,333 |
15¢ |
0.0015 |
$117.50 |
$9.79 |
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$300,000 |
$100,000 |
$95,000 |
15¢ |
0.0015 |
$142.50 |
$11.88 |
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$350,000 |
$116,667 |
$111,667 |
15¢ |
0.0015 |
$167.50 |
$13.96 |
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For example, one third of
market value on a $180,000 home is $60,000. Subtract the |
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$5,000 homeowner exemption, for
which every homeowner qualifies. Multiply the sum, |
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$55,000 in this example, by the
increase in the tax rate of fifteen cents (.0015) to arrive |
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at the annual cost of $82.50. |
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$180,000
÷
3 = $60,000 |
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$60,000 - $5,000 = $55,000 |
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$55,000 x .0015 = $ 82.50 |
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