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TAX CALCULATION EXAMPLES Proposed Payable 2005 <br /> 26-Oct-05 CITY OF BAXTER <br /> MARKET VALUE TOTAL: $100,000 <br /> NTC Rate: 103.798% <br /> Market Value Rate(School): 0.04907% <br /> Market Value Rate(Local): 0.00000% <br /> Homestead Credit Rate: 40.0% SD 181 <br /> Referendum Market Value: $100,000 <br /> Classification: RESIDENTIAL HOMESTEAD <br /> Tax Capacity Calculation: Market Value Rate Tax Capacity <br /> 1st$500,000 of Market Value 100,000 1.00% 1,000 <br /> Remainder of Value 0 1.25% 0 <br /> Totals 100,000 1,000 <br /> Tax Calculation: <br /> Tax Capacity times Net Rate: $1,037.98 <br /> Ref.Market Value times MV Rate: 49.07 <br /> HTC on 1st$76,000 304.00 <br /> Phaseout (21.60) <br /> Homestead Credit: (282.40) <br /> TOTAL TAX BEFORE ASSESSMENTS $804.65 <br /> Classification: SEASONAL RECREATIONAL <br /> Tax Capacity Calculation: Market Value Rate Tax Capacity <br /> 1st$76,000 of value 76,000 1.00% 760 <br /> $76,000-$500,000 of MV 24,000 1.00% 240 <br /> Remainder of Value 0 1.25% 0 <br /> Totals 100,000 1,000 <br /> Tax Calculation: <br /> Tax Capacity times Net Rate: $1,037.98 <br /> State Tax at 52.0%Rate 282,88 <br /> Local MV Tax 0,00 <br /> TOTAL TAX BEFORE ASSESSMENTS $1,320.86 <br /> =xaxxxzaxx=sss=a=axxsaaxx=aaaa =za=szsaaaa=xxz==aaazzszs as:saaaxaaa xa=axx= <br /> Classification: COMMERCIAUINDUSTRIAL <br /> Contribution Value: 0.000000% <br /> Fiscal Disparity Areawide Rate: 154.036% <br /> Tax Capacity Calculation: Market Value Rate Tax Capacity <br /> 1st$150,000 of value 100,000 1.50% 1,500 <br /> Remainder of Value 0 2.00% 0 <br /> Totals 100,000 1,500 <br /> Fiscal Disparity Tax Capacity 0 <br /> Tax Calculation: <br /> Tax Capacity times Net Rate: $1,556.97 <br /> Ref.Market Value times MV Rate: 49.07 <br /> State Tax at 52.0%Rate 780.00 <br /> TOTAL TAX BEFORE ASSESSMENTS $2,386.04 <br /> SHOWS THAT FOR SAME MARKET VALUE,THE CLASSIFICATION <br /> SIGNIFICANTLY AFFECTS THE AMOUNT OF TAX THAT WILL BE DUE] <br />