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2022 Proposed Tax Levy  <br />Page 4  <br />Tax Rates  <br />The total proposed 2022 property tax levy of $9,590,175 will keep the urban tax rate at 39.294% of tax  <br />capacity.  <br />Based on estimated market and tax capacity values, the levy proposed herein will move the urban and  <br />rural tax as follow:  <br />Pay 2022 Percent <br />Proposed Change <br />Tax Rate Calculations: <br />Local Portion of General Expense $ 7,771,742 <br />Divided by Tax Capacity $ 22,015,493 <br />Urban Tax Capacity for General <br />Expense 35.301% <br />Less 10% for Rural -3.530% <br />Local Portion of Debt Service Levy $ 894,097 <br />Divided by Total Tax Capacity $ 22,390,242 <br />Tax Capacity for Debt Service 3.993% <br />Total Urban Tax Rate 39.294% 0.00% <br />Total Rural Tax Rate 35.764% 0.53% <br />City Tax on Median Valued Homestead  <br />According to the latest Washington County data, the median taxable value of a homestead property in Hugo  <br />has increased $19,800 to $309,800, an increase of 6.83%.  The tax on this homestead will increase as  <br />follows:  <br /> Pay 2022 Percent <br /> Change <br />City Tax on Median Value Homestead: <br />Median Taxable Value Prior to <br />Exclusion $ 309,800 6.83% <br /> Market Value Exclusion $ (9,358) <br /> Median Taxable Value After Exclusion $ 300,442 7.74% <br /> Tax Capacity $ 3,004 <br /> Net Tax $ 1,180.57 7.74% <br /> Dollar Change $ 84.83