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Chuck Whiting <br /> Page 2 <br /> April 17, 1998 <br /> OFFICE BUILDING <br /> Current Market Value : $38,200 <br /> New Market Value: $2,100,000 <br /> Calculation: <br /> Current Tax: <br /> Tax Capacity= <br /> $38,200 x 2.45%= $936 <br /> x tax rate 129.878% <br /> =taxes payable= $1216 <br /> New Tax <br /> $150,000 x 2.45%= 3,675 <br /> $1,950,000 x 3.5% = 68.250 <br /> tax capacity 71,925 <br /> x tax rate 129.878% <br /> =taxes payable= $93,415 <br /> Annual Increase in Total Taxes: <br /> New Tax $93,415 <br /> Current Tax $1,216 <br /> Increase $92,199 <br /> City Portion(19.948%) $18,392 <br />