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H.F. 1.First Special Session it/ June 28. 2001 <br /> Version: Delete-everything amendment 1)Olcr/ Page 32 <br /> Section • <br /> • <br /> Article 3: CLASS RATE CHANGES <br /> • <br /> Current Law Proposed Class Rates <br /> Local Tax State Tax <br /> Residential Homestead: <br /> Up to $76,000 • 1.0 % • 1.0 % <br /> $76,000 -$500,000 1.65 1.0 <br /> Over$500,000 1.65 1.25 <br /> Residential Nonhomestead: <br /> Single unit: <br /> Up to$76,000 1.2 • 1.0 <br /> $76,000-$500,000 1.65 1.0 <br /> Over$500,000 1.65 1.25 <br /> 2-3 unit and undeveloped land 1.65 1.5' <br /> Apartments: <br /> Regular 2.4 1.82 <br /> Small city 2.15 1.82 <br /> Low-income 1.0 0.93 <br /> Commercial-Industrial-Public Utility: <br /> Up to $150,000 2.4 1.5 1.5 <br /> Over$150,000 3.4 2.0 2.0 • <br /> Electric generation machinery 3.4 2.0 - <br /> Seasonal Recreational Commercial: <br /> Homestead resorts(1c): 1.0 1.0 - <br /> Seasonal resorts(4c): <br /> Up to $500,000 1.65 1.0 1.0 <br /> Over$500,000 1.65 1.25 1.25 <br /> • <br /> . Seasonal Recreational Residential: <br /> Up to $76,000 1.2 1.0° 0.4 <br /> $76,000 -$500,000 1.65 1.04 1.0 <br /> Over$500,000 1.65 1.254 1.25 <br /> Disabled homestead 0.45 0.45 <br /> Agricultural land & buildings: <br /> Homestead: <br /> Up to $115.000 0.35 0.55° <br /> S 115,000-$600,000 0.8 0.554 <br /> Over$600,000 1.2 1.04 <br /> Nonhomestead 1.2 1.04 <br /> ' Rate reduced to 1.25% in pay 2003 and thereafter. <br /> Rate reduced to 1.5% in pay 2003 and 1.25% in pay 2004 and thereafter. <br /> Rate increased to 1.0% in pay 2003, classification abolished in pay 2004. <br /> Exempt from referendum market value tax. <br /> Article 3: Property Taxes <br />