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CITY OF FALCON HEIGHTS <br />COMPARISON OF 2004 PROPERTY TAXES. <br />TO 2005 PROPOSED PROPERTY TAXES <br />Median Market Taxable Value Increased from $191,000 go $219,600 <br />DESCRIPTION PAY 2004 PAY 2005 DIFFERENCE <br />MEDIUM MARKET VALUE: <br />NET TAX CAPACITY'` <br />X LOCAL TAX RATE "* <br />(1) NET TAX CAPACITY TAXES: <br />191,000 219,600 28,600 <br />1910.00 2196.00 286.00 <br />98.018% 91.945% <br />1872.14 2019.11 146.97 <br />NET TAX CAPACITY 1910.00 2196.00 286.00 <br />X HOMESTEAD CREDIT RATE: variable variable <br />(2) HOMESTEAD CREDIT AMOUNT: -200.05 -174.76 25.29 <br />TAXABLE MARKET VALUE OF HOME 191,000 219,600 28600.00 <br />X MARKET TAX RATE: 0.19573% 0.16181% <br />(3) MARKET VALUE TAXES: 373.84 355.33 -18.51 <br />SUMMARY: <br />(1) NET TAX CAPACITY TAXES: 1872.14 2019.11 146.97 <br />(2) HOMESTEAD CREDIT AMOUNT: -200.05 -174.76 25.29 <br />(3) MARKET VALUE TAXES: 373.84 355.33 -18.51 <br />TOTAL TAXES DUE: $2,045.94 $2,199.69 $153.75 <br />7.51 % INCREASE <br />Net Tax Capacity =Taxable Market Value x Class Rate <br />** Local tax rate is composed of City, County, School <br />District, and Special Taxing District taxes <br />*"" Maximum homestead credit of $304.00 for 2005 <br />at a home valued at $76,000. For value over $76,000 then <br />• deduct amount times .09%. For 2005 this totals $174.76 <br />