Laserfiche WebLink
CUT PROPERTY TAXES <br /> • Homeowners: 1998 tax the lesser of a 5% cut from 1997 or 1 .5% of <br /> market value. <br /> • Nonsubsidized apartments: Flat rates of 3% in 1998 and .5% in <br /> 1999 and considerably lower purely local rates in 2000 and <br /> thereaf- <br /> ter. Current rate averages <br /> • All other rental housing: immediate substantial cut. <br /> • Cabins: Immediate cut from 1997 level that was cut from past years. <br /> • Homestead farms: 1998 tax me lesser of a 5% cut from 1997 or <br /> whatever is levied in 1998 for roads and watersheds. <br /> • Nonhomestead farms: Immediate substantial cut. <br /> • • First $100,000 of business property: Flat rates of 4% in 1998, <br /> thereafter with a credit to eliminate <br /> 3.5% in 1999 and 3% in 2000 1997 led vell of tax. Current rate averages <br /> or reduce any increase over <br /> about 4%. <br /> • Business property over S100,000: Fiat rates of 5 percent in 1998, <br /> 4% in 1999 and 3% in 2000 and thereafter, with a credit to eliminate <br /> or reduce any increase over 1997 level of tax. Current rate averages <br /> ab ut . <br /> • <br />