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CITY OF FALCON HEIGHTS <br />COMPARISON OF 2003 PROPERTY TAXES <br />TO 2004 PROPOSED PROPERTY TAXES <br />Median Market Taxable Value Did Not Increased from $170,500 <br />DESCRIPTION PAY 2003 PAY 2004 DIFFERENCE <br /> <br />MEDIUM MARKET VALUE: 170,500 170,500 0 <br />NET TAX CAPACITY* 1705.00 1705.00 0.00 <br />X LOCAL TAX RATE ** ' 99.405% +~ 98.018% `~' <br />(1) NET TAX CAPACITY TAXES: 1694.86 1671.21 -23.65 <br />NET TAX CAPACITY 1705.00 1705.00 0.00 <br />X EDUCATIONAL HOMESTEAD CREDIT RATE: variable variable <br />(2) EDUCATIONAL HOMESTEAD CREDIT AMOUNT: -219.59 -219.59 0.00 <br />• TAXABLE MARKET VALUE OF HOME 170,500 170,500 0.00 <br />X MARKET TAX RATE: 0.20792% ... 0.19573% ~' <br />(3) MARKET VALUE TAXES: <br />354.50 333.72 -20.78 <br />SUMMARY: <br />(1) NET TAX CAPACITY TAXES: <br />(2) EDUCATIONAL HOMESTEAD CREDIT AMOUNT: <br />(3) MARKET VALUE TAXES: <br />1694.86 1671.21 -23.65 <br />-219.59 -219.59 0.00 <br />354.50 333.72 -20.78 <br />TOTAL TAXES DUE: $1,829.77 $1,785.34 ($44.43) <br />-2.4% DECREASE <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 educational homestead credit of $304.00 for 2004 <br />at a home valued at $76,000. For value over $76,000 then <br />• deduct amount times .09%. This would be the same $219.59 for 2004 <br />