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STATUTORY FORMULAE
<br /> CONVERSION OF ESTIMATED MARKET VALUE (EMV)TO NET TAX CAPACITY FOR
<br /> Mkk- PROPERTY CLASSIFICATIONS
<br /> Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity Net Tax Capacity
<br /> General Classifications Levy Year 1993 levy Year 1994 Levy Year 1995 Levy year 1996 Levy year 1997
<br /> Residential Homestead 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 1.00% First$75,000 of EMV at
<br />1.00%
<br /> EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EVM in excess of$72,000 EMV in excess of$75,000
<br /> at 2.00% at 2.00% at 2.00% at 2.00% at 1.85%
<br /> Residential Non-Homestead 3.40% 3.40% 3.40%;except certain cities of 3.40%;except certain cities of 2.90%;except certain cities of
<br /> 4 or more units 5,000 population or less 5,000 population or less 5,000 population or less
<br /> at 2.30% at 2.30% at 2.30%
<br /> Agricultural Homestead First$72,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house, First$75,000 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 /> EMV in excess of$72,000 of EMV in excess of$72,000 of EMV in excess of$72,000 of EMV in excess of$72,000 of EMV in excess of$75,000 of
<br /> house,garage and 1 acre at house,garage and 1 acre at house,garage and 1 acre at house,garage and 1 acre at house,garage and 1 acre at
<br /> 2.00% 2.00% 2.00% 2.00% 1.85%
<br /> Remaining Property: Remaining Property: Remaining Property: Remaining Property: Remaining Property:
<br /> First$115,000 of EMV on First$115,000 of EMV on First$115,000 of EMV on First$115,000 of EMV on First$115,000 of EMV on
<br /> first 320 acres at 0.45% first 320 acres at 0.45% first 320 acres at 0.45% first 320 acres at 0.45% first 320 acres at 0:40%
<br /> EMV in excess of$115,000 on EMV in excess of$115,000 on EMV in excess of$115,000 on EMV in excess of$115,000 on EMS(in excess of$115,000 on
<br /> first 320 acres at 1.00% first 320 acres at 1.00% first 320 acres at 1.00% first 320 acres at 1.00% first 320 acres at 0.90%
<br /> EMV in excess of$115,000 over EMV In excess of$115,000 over EMV in excess of$115,000 over 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% 320 acres at 1.50% 320 acres at 1.50% 320 acres at 1.40%
<br /> Agricultural Non-HomesteadEMV of house,garage and EMV of house,garage and EMV of house,garage and EMV of house, First$75,000 of EMV of house,
<br /> 1 acre at 2.30% 1 acre at 2.30% 1 acre at 2.30% garage and 1 acre at 2.30% galrage and 1 acre at 1.90%
<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 in excess of$75,000 of
<br /> at 1.50% at 1.50% at 1.50% at 1.50% house,garage and 1 acre
<br /> at 2.10%
<br /> EMV of land and other buildings
<br /> at 1.40%
<br /> Commercial-Industrial First$100,000 of EMV at 3.00% First$100,000 of EMV at 3.00% First$100,000 of EMV at 3.00% First$100,000 of EMV First$150,000 of EMV
<br /> EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 at 3.00% at 2.70%
<br /> at 4.60% at 4.60% at 4.60% EMV in excess of$100,000 EMV in excess of$150,000
<br /> at 4.60% at 4.00%
<br /> Seasonal/Recreational Non-Commercial Non-Commercial 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% First$72,000 of EMV at 1.75% First$75,000 of EMV
<br /> EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 at 1.40%
<br /> at 2.50% at 2.50% at 2.50% at 2.50% EMV in excess of$75,000
<br /> Commercial-2.30% Commercial-2.30% Commercial-2.30% Commercial-2.30% at 2.50%
<br /> Commercial-2.10%
<br /> Vacant Land N/A N/A N/A N/A NIA
<br /> (All vacant land is reclassified (All vacant land is reclassified (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 to highest and best use to highest and best use
<br /> pursuant to local zoning pursuant to local zoning pursuant to local zoning pursuant to local zoning pursuant to local zoning
<br /> ordinance) ordinance) ordinance) ordinance ordinance
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