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STATUTORY FORMULAE
<br /> CONVERSION OF ESTIMATED MARKET VALUE(EMV)TO NET TAX CAPACITY FOR
<br /> MAJOR PROPERTY CLASSIFICATIONS
<br /> Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity
<br /> General Classifications Levy Year 1990 Levy Year 1991 Levy Year 1992 Levy Year 1993 Levy Year 1994
<br /> Residential Homestead First$68,000 of EMV at 1.00% First$72,000 of EMV at 1.00% First$72,000 of EMV at 1.00% First$72,000 of EMV at 1.00% First$72,000 of EMV at
<br />1.00%
<br /> Next$42,000 of EMV at 2.00% Next$43,000 of EMV at 2.00% EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000
<br /> EMV in excess of$110,000 EMV in excess of$115,000 at 2.00% at 2.00% at 2.00%
<br /> at 3.00% at 2.5%
<br /> Residential Non-Homestead
<br /> 4 or more units 3.60% 3.50% 3.40% 3.40% 3.40%
<br /> Agricultural Homestead First$68,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house,
<br /> garage and 1 acre at 1.00% garage and 1 acre at 1.00% garage and 1 acre at 1.00% garage and 1 acre at 1.00% garage and 1 acre at 1.00%
<br /> Excess to 320 acres at 0.45% Excess to 320 acres at 0.45% Excess to 320 acres at 0.45% EMV in excess of$72,000 of EMV in excess of$72,000 of
<br /> Excess over 320 acres at 0.45% Excess over 320 acres at 0.45% Excess over 320 acres at 0.45% house,garage and 1 acre at house,garage and 1 acre at
<br /> Next$42,000 EMV at 2.00% Next$43,000 EMV at 2.00% Next$43,000 EMV at 2.00% 2.00% 2.00%
<br /> Excess to 320 acres at 0.45% Excess to 320 acres at 0.45% Excess to 320 acres at 0.45% Remaining Property: Remaining Property:
<br /> Excess over 320 acres at 0.45% Excess over 320 acres at 0.45% Excess over 320 acres at 0.45% First$115,000 of EMV on First$115,000 of EMV on
<br /> EMV in excess of$110,000 EMV in excess of$115,000 EMV in excess of$115,000 first 320 acres at 0.45% first 320 acres at 0.45%
<br /> at 3.00% at 2.5% at 2.00% EMV in excess of$115,000 on EMV in excess of$115,000 on first
<br /> Excess to 320 acres at 1.30% Excess to 320 acres at 1.30% Excess to 320 acres at 1.30% first 320 acres at 1.00% 320 acres at 1.00%
<br /> Excess over 320 acres at 1.60% Excess over 320 acres at 1.60% Excess over 320 acres at 1.60% EMV in excess of$115,000 over EMV in excess of$115,000 over
<br /> 320 acres at 1.50% 320 acres at 1.50%
<br /> Agricultural Non-Homestead EMV of house,garage and EMV of house,garage and EMV of house,garage and EMV of house,garage and EMV of house,garage and
<br /> 1 acre at 3.00% 1 acre at 2.80% 1 acre at 2.50% 1 acre at 2.30% 1 acre at 2.30%
<br /> EMV of land and other buildings EMV of land and other buildings EMV of land and other buildings EMV of land and other buildings EMV of land and other buildings
<br /> at 1.60% at 1.60% at 1.60% at 1.50% at 1.50%
<br /> Commercial-Industrial First$100,000 of EMV at 3.20% First$100,000 of EMV at 3.10% First$100,000 of EMV at 3.00% First$100,000 of EMV at 3.00% First$100,000 of EMV at 3.00%
<br /> EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000
<br /> at 4.95% at 4.75% at 4.70% at 4.60% at 4.60%
<br /> Seasonal/Recreational 2.30% Non-Commercial-2.20% Non-Commercial Non-Commercial Non-Commercial
<br /> Residential First$72,000 of EMV at 2.00% First$72,000 of EMV at 2.00% First$72,000 of EMV at 2.00%
<br /> EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000
<br /> at 2.50% at 2.50% at 2.50%
<br /> Commercial-2.30% Commercial-2.30% Commercial-2.30% Commercial-2.30%
<br /> Vacant Land 4.95% 4.75% N/A N/A N/A
<br /> (All vacant land is reclassified (All vacant land is reclassified (All vacant land is reclassified
<br /> to highest and best use to highest and best use to highest and best use
<br /> pursuant to local zoning pursuant to local zoning pursuant to local zoning
<br /> ordinance) ordinance) ordinance)
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