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ro <br />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 $100,000 - 4.6% Over $150,000 - 4% <br />Apartments: <br />Taxable Value Times 3.4% <br />Residential: <br />First $ 72,000 - 1% <br />Over $ 72,000 - 2% <br />Taxable Value Times 2.9% <br />First $ 75,000 - 1% <br />Over $ 75,000 - 1.85% <br />* SHIFTS THE TAX BURDEN FROM COMMERCIAL AND <br />APARTMENTS TO RESIDENTIAL PROPERTY OWNERS. <br />