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CITY OF FALCON HEIGHTS <br />COMPARISON OF 2005 PROPERTY TAXES <br />TO 2006 PROPOSED PROPERTY TAXES <br />Median Market Taxable Value Increased from $219,600 go $252,500 <br />DESCRIPTION PAY 2005 PAY 2006 DIFFERENCE <br />MEDIUM MARKET VALUE: 219,600 252,500 32,900 <br />NET TAX CAPACITY* 2196.00 2525.00 329.00 <br />X LOCAL TAX RATE ~''` : 91.945% 88.915% <br />(1) NET TAX CAPACITY TAXES:. 2019.11 2245.10 225.99 <br />NET TAX CAPACITY 2196.00 2525.00 329.00 <br />X HOMESTEAD CREDIT RATE: variable variable <br />(2) HOMESTEAD CREDIT AMOUNT: -174.76 -145.15 29.61 <br />TAXABLE MARKET VALUE OF HOME 219,600 252,500 32,900 • <br />X MARKET TAX RATE: 0.16181 %. 0.15108% <br />(3) MARKET VALUE TAXES: , 355.33 381.48 26.14 <br />SUMMARY: <br />(1) NET TAX CAPACITY TAXES: 2019.11 2245.10 225.99 <br />(2) HOMESTEAD CREDIT AMOUNT: -174.76 -145.15 29.61 <br />(3) MARKET VALUE TAXES: 355.33 381.48 26.14 <br />TOTAL TAXES DUE: $2,199.69 $2,481.43 $281.74 <br />12.81 % 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 2006 <br />at a home valued at $76,000. For value over $76,000 then <br />deduct amount times .09%. For 2006 this totals $145.15 <br />• <br />