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PAYABLE 1995 PROPERTY TAX IMPACT WORKSHEET <br />Taxing District: CITY OIL LAKE CTMO <br />EP 1 — Calculate the Taxing District's Payable 1995 Local Tax Rate: <br />Taxing District's Budget Requirement <br />A. 1, <br />201, <br />000 <br />— Local Government Aid (LGA) <br />B. <br />4,487 <br />— Homestead & Ag Credit Aid (HACA) <br />C. <br />134,988 <br />— Other Revenue Sources <br />D. <br />= Certifed Property Tax Levy <br />E. <br />0 1 <br />.525 <br />— Fiscal Disparity Portion of Levy <br />F. <br />93,391 <br />= Local Portion of Levy <br />G. <br />918,134 <br />Local Taxable Value (est from Cty)(1) H. 4,361,974 <br />Local Tax Rate I. 21.049 <br />U) an increase of $284,701 over last year. <br />J. <br />NA <br />NA <br />K. <br />L. <br />NA <br />NA <br />M, <br />N. <br />STEP 2 — Calculate the Impact of the Taxing District's Tax Rate on Residential Homestead Properties <br />(Taxing District portion of tax only, assuming ful+aarketvalus igcreasafKom day 1994 Eo Ray_1885) <br />Pay 1994 Local Tax Rate <br />Q. R <br />0, 19.944 P. <br />S. T. U. ' V. W. <br />r Taxal le <br />Matket <br />Value: <br />P'a 1994 •' <br />°` Pa .1995.. <br />Change <br />(u-s) <br />Change: <br />N,g) <br />aTax <br />Capacfty <br />Actual <br />Tax <br />(Dx�;+:(PxQr < <br />Tax s.: <br />z.Capacity. <br />Proposed <br />Tax <br />o:X,�,(Nxa) <br />75,000 <br />780 <br />$ 155.53 <br />_ <br />780 <br />$ 164 18 <br />$ 8.65 <br />5.56 % <br />100,000 <br />1,280 <br />s 255.23 <br />1,280 <br />s 269.43 <br />s 14.20 <br />5.56 % <br />125,000 <br />1,780 <br />s 354.93 <br />1,780 <br />$ 374 ^67 <br />$ 19.74 <br />5.56 % <br />150,000 <br />2,280 <br />s <br />2,280 <br />$ 479.92 <br />s 25.29 I <br />5.56 % <br />175,000 <br />2,780 <br />$ 554,33 <br />2,780 <br />s 58. 11 <br />s 30,7II <br />5.56 % <br />200,000 <br />3,280 <br />$ 65403 <br />3,280 <br />$ 690e41 11s <br />36.38 <br />1 <br />Q. — Taxable Market Value of Residential Homestead <br />R. — Calculate the Net Tax Capacity of a Residential Homestead for Pay 1994 <br />1 at 72,000 of Market Value @ 1.00%, remainder @ 2,00% <br />S. — Calculate the tatting district's portion of the Pay 1994 tax <br />multiply the Pay 1994 net tax capacity (M by the Pay 1994 tax capacity local tax rate (0), plus <br />multiply the Pay 1994 market value (0) bythe Pay 1994 market value local tax rate (P) <br />T. — Calculate the Net Tax Capacity of a Residential Homestead for Pay 1995 <br />1 st 72.000 of Market Value @ 1.00%, remainder @ 2.00% <br />U..— Calculate the taxing district's portion of the Pay 1995 tax <br />multiply the Pay 1995 net tax capacity M by the Pay 1995 tax capacity local tax rate (1) , plus <br />multiply the Pay 1995 market value (0) by the Pay 1995 market value local tax rate (N) <br />V. — Calculate the Dollar amount of the.increase/decrease <br />subtract the Pay 1994 tax amount calculated in (S) from the Pay 1995 tax amount calculated in (U). <br />W. — Calculate the Percentage of increaseldecrease <br />divide the Dollar amount of increase/decrease M by the Pay 1994 tax amount (S) <br />