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1998 CHANGES TO THE CLASS RATES <br /> (State Legislature sets Class Rates) <br /> Industrial: <br /> 1997 1998 <br /> First $100,000 — 3% First $150,000 — 2.7% <br /> Over $1009000 — 4.6% Over $150,000 — 4% <br /> Apartments: <br /> Taxable Value Times 3.4% Taxable Value Times 2.9% <br /> Residential: <br /> First $ 729000 — 1% First $ 759000 - 1% <br /> Over $ 72,000 — 2% = Over $ 759000 — 1.85% <br /> WHAT DID THE CHANGE DO ? <br /> SHIFTS THE TAX BURDEN FROM COMMERCIAL-AND <br /> APARTMENTS TO RESIDENTIAL PROPERTY OWNERS. <br /> f <br />