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Actual Actual Actual Actual <br />2023 2023 2023 2023 <br />Value $250,000 $250,000 $500,000 $500,000 $1,000,000 $1,000,000 $2,000,000 $2,000,000 <br />MVE $14,740 $14,740 $0 $0 $0 <br />Tax Value $235,260 $235,260 $500,000 $500,000 $1,000,000 $1,000,000 $2,000,000 $2,000,000 <br />2,353 2,353 5,000 5,000 11,250 11,250 23,750 23,750 <br />16.530%16.320%16.530%16.320%16.530%16.320%16.530%16.320% <br />$388.88 $383.94 $826.50 $816.00 $1,859.63 $1,836.00 $3,925.88 $3,876.00 <br />-$4.94 -$10.50 -$23.62 -$49.87 <br />-1.27%-1.27%-1.27%-1.27% <br /> <br />* Tax Capacity (net) = 1% of first $500,000 market value, plus 1.25% of all value over $500,000 <br />** Assumes no change in value <br /> <br />2024 2024 2024 <br />Tax Capacity (Net) * <br />Effect of 2024 Tax Levy & Budget on Residential Properties <br />No Change in Value <br />Estimated Estimated Estimated Estimated <br />Tax Capacity Rate <br />Net City Tax <br />$ Increase from 2023 <br />% Increase from 2023 <br />2024 <br />2024 Budget Information Page 3 of 30 <br />Orono City Council | Monday, November 27, 2023 | Page 45 of 79