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h1INN-.4T�.VAL-TA;—PRoz& ZX_IAXL5_A_Qp t tl_ved) <br />but with a major formula change. A new disparity reduction aid program has been <br />made available to be targeted for very high mill rate areas (generally for mill <br />rates over 125 mills plus additional adjustments). <br />The new tax capacities should not result in major shifts or tax burden changes for <br />any major classes of property, although lower value residential homesteads will see <br />an increase and small businesses a decrease. The tax capacities will provide a <br />reduction for homestead market value between $68,000 to $100,000. For businesses <br />the lower gross tax capacity rate has been extended to the first $100,000 of value <br />from the first $60,000 of value. <br />Taxes f4r-12$9/90: The 1988 Omnibus Tax Bill provides for additional changes. Net <br />tax capacities will be used to determine tax burdens. The homestead and <br />agricul oral credits will be provided through lower net tax capacity ratios. <br />Homestead and agricultural credit reimbursements to local governfients will be <br />eliminated and replaced with a new transition aid. This transition aid will result <br />in very similar reimbursement. The disparity reduction aid is to be frozen at 1989 <br />levels and Local Government Aid will be calculated the same as in 1989, but the <br />increase in aid is to be reduced by one half. <br />i O <br />