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Column H- 230,000 <br />This number is the total of all homestead property tax capacity (not market value of the <br />properties) in your city times 4 %. The number is calculated and supplied by the County <br />Auditor. Why 4 %? Since all higher priced homes will have a value above $ 72,000, then <br />their tax capacity would be at 2 %. However, since the program doubles the market value <br />to arrive at the base value, then the tax capacity on the homestead tax capacity should <br />also be double or 4% (2% x 2 = 4 %). <br />Column I- 57,500.00 <br />This number is the result of multiplying the 4% Homestead Tax Capacity ( Column H ) <br />times your city's local tax rate ( Column K ). <br />Column J- 12,500.00 <br />This column is the lower of Column G or Column J. Simply stated it represents the <br />calculated extra property taxes your city receives from these higher priced houses. In <br />some cases these extra property taxes may be the 4% of Homestead Tax Capacity number <br />( Column J) rather than the Excess Growth number ( Column G ). In these instances, <br />the growth of high priced homes is faster than 4 % of the net tax capacity for the city. <br />Column K-- 25.000 % <br />This is your city's local tax rate for 1998 as certified by the county auditor. <br />Column L--- 12,500.00 <br />This is the same as Column J. It represents the Affordable Life -Cycle Housing <br />Opportunities Amount for 1998. <br />Column M - -125 <br />This is the actual number of higher priced homes that had values above the hurdle rate in <br />1997. <br />Column N -150 <br />This is the actual number of higher priced homes that had values above the hurdle rate for <br />1998. <br />Column 0- 20.00% <br />This is the increase in higher priced homes from 1997 to 1998. For information only. <br />Page 13 <br />