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Governor's Tax Bill (Released August 10, 1989) August 14, 1989 <br />House Research Department Page 10' <br />Table 4 <br />PROPOSED CLASSIFICATION RATES <br />PAYABLE YEARS 1990-1999 <br />Pt opt LTe <br />M <br />12U <br />M <br />12L4 <br />M <br />M <br />M <br />M <br />1Q2 <br />Residential Homestead <br />Up to $68,000 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />$68,000 to S 100,000 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />$100,000 to $168,000 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />Over S 168,000' <br />3.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />Residential Non-Hmstd. <br />1-3 Units <br />3.0 <br />2.8 <br />2.6 <br />2.4 <br />2.2 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />Apartments <br />4 or More Units <br />3.6 <br />3.4 <br />3.2 <br />3.0 <br />2.6 <br />2.3 <br />2.0 <br />2.0 <br />Title U & FHA <br />1.6 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />Farm Homestead <br />House, Garage & 1 Acre <br />Up to S68,000 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />$68,000 TO S100,000 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />S 100,000-5168,000 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />30 <br />3.0 <br />3.0 <br />Over S 168,000 ` <br />1.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />Lnd do other Bldgs. <br />Up to S 125,000 <br />0.4 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />Over S 125,000 <br />1.6 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />Farm Non -Homestead <br />House, Garage & 1 Acre <br />3.0 <br />2.8 <br />2.6 <br />2.4 <br />22 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />Lnd do Other Bldgs. <br />1.6 <br />13 <br />1.3 <br />13 <br />12 <br />1.1 <br />1.0 <br />1.0 <br />1.0 <br />1.0 <br />Seasonal/ Recre.acicnal <br />Residential <br />2.4 <br />2.3 <br />22 <br />2.0 <br />2.0 <br />2.0 <br />7.0 <br />2.0 <br />2.0 <br />2.0 <br />Homestead Resort <br />1.0 <br />1.0 <br />1.0 <br />•' <br />" <br />as <br />" <br />" <br />" <br />as <br />Commercial <br />2.4 <br />2.3 <br />2.2 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />2.0 <br />Commercial /industrial/Pub5c Utility <br />(except P.U. Attached Machinery) <br />Up to S 100,000 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />3.0 <br />Over $100,000 <br />5.0 <br />4.9 <br />4.8 <br />4.6 <br />4.4 <br />42 <br />4.0 <br />3.7 <br />3.4 <br />3.0 <br />Utility Attached Machinery, <br />and Minerals <br />5.0 <br />4.9 <br />4.8 <br />4.6 <br />-4.4 <br />4.2 <br />4.0 <br />3.7 <br />3.4 <br />3.0 <br />Vacant Land <br />5.5 <br />53 <br />5.0 <br />4.6 <br />4.4 <br />4.2 <br />4.0 <br />3.7 <br />3.4 <br />3.0 <br />*The toW rate on a residential/agricultural <br />homestead cannot exceed <br />2%. Hence, the value <br />in <br />access of $168,000 is subject to a 2% <br />rate. <br />Although <br />tilt <br />lapg,"ge <br />in the <br />bit <br />Ls 1996, <br />it was <br />intended that this rate take effect <br />for <br />1991. <br />"Beginning in payable 1993 <br />and thereafter, the residential home: -lead <br />rates (t,e., i%. <br />2%, <br />3%) <br />will also be applicable to the <br />homesteaded <br />resorts <br />