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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 1994 Levy Year 1995 Levy Year 1996 Levy Year 1997 Levy Year 1998
<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$75,000 of EMV at 1.00% First$75,000 of EMV at 1.00%
<br /> EMV in excess of$72,000 EMV in excess of$72,000 EVM in excess of$72,000 EMV in excess of$75,000 EMV in excess of$75,000
<br /> at 2.00% at 2.00% at 2.00% at 1.85% at 1.70%
<br /> Residential Non-Homestead 3.40% 3.40%;except certain cities of 3.40%;except certain cities of 2.90°/x;except certain cities of 2.50%;except certain cities of
<br /> 4 or more units 5,000 population or less 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% at 2.15%
<br /> Agricultural Homestead First$72,000 EMV of house, First$72,000 EMV of house, First$72,000 EMV of house, First$75,000 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$75,000 of EMV in excess of$75,000 of
<br /> house,garage and 1 acre house,garage and 1 acre house,garage and 1 acre house,garage and 1 acre house,garage and 1 acre
<br /> at 2.00% at 2.00% at 2.00% at 1.85% at 1.70%
<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 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% 320 acres at 0.40% first 320 acres at 0.35%
<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 EMV 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 0.90% first 320 acres at 0.80%
<br /> EMV in excess of$115,000 EMV in excess of$115,000 EMV in excess of$115,000 EMV in excess of$115,000 EMV in excess of$115,000
<br /> over 320 acres at 1.50% over 320 acres at 1.50% over 320 acres at 1.50% over 320 acres at 1.40% over 320 acres at 1.25%
<br /> Agricultural Non-Homestead EMV of house,garage and EMV of house,garage and EMV of house,garage and First$75,000 of 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 1.90% garage and 1 acre at 1.25%
<br /> 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 EMV in excess of$75,000 of
<br /> at 1.50% at 1.50% at 1.50% house,garage and 1 acre house,garage and 1 acre
<br /> at 2.10% at 1.70%
<br /> EMV of land and other buildings EMV of land and other buildings
<br /> at 1.40% at 1.25%
<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$150,000 of EMV at 2.70% First$150,000 of EMV at 2.45%
<br /> EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$100,000 EMV in excess of$150,000 EMV in excess of$150,000
<br /> at 4.60% at 4.60% at 4.60% at 4.00% at 3.50%
<br /> Seasonal/Recreational Non-Commercial Non-Commercial Non-Commercial Non-Commercial Non-Commercial
<br /> Residential First$72,000 of EMV First$72,000 of EMV First$72,000 of EMV First$75,000 of EMV First$75,000 of EMV
<br /> at 2.00% at 2.00% at 1.75% at 1.40% at 1.25%
<br /> EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$72,000 EMV in excess of$75,000 EMV in excess of$75,000
<br /> at 2.50% at 2.50% at 2.50% at 2.50% at 2.20%
<br /> Commercial-2.30% Commercial-2.30% Commercial-2.30% Commercial-2.10% Commercial—1.80%
<br /> Vacant Land N/A N/A N/A N/A N/A
<br /> (All vacant land is reclassified to (All vacant land is reclassified to (All vacant land is reclassified to (All vacant land is reclassified to (All vacant land Is reclassified
<br />to
<br /> highest and best use highest and best use highest and best use highest and best use 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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