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Levy Increase <br />Tax Capacity (N <br />Tax Capacity R� <br />Net City Tax <br />$ Increase from <br />% Increase frorr <br />Effect of 2017 Tax Levy & Budget on Residential Properties <br />5.0% Decrease in Value <br />Tax Capacity (net) = 1 % of first $500,000 market value, plus 1.25% of all value over $500,000 <br />** Assumes a 5.0% decrease in value <br />Tax Levy Effect on Residential Property <br />Actual <br />Estimated <br />Actual <br />Estimated <br />Actual <br />Estimated <br />Actual <br />Estimated <br />2016 <br />2017 <br />2016 <br />2017 <br />2016 <br />2017 <br />2016 <br />2017 <br />Value <br />$250,000 <br />$237,500 <br />$500,000 <br />$475,000 <br />$1,000,000 <br />$950,000 <br />$2,000,000 <br />$1,900,000 <br />MVE <br />$14,740 <br />$15,865 <br />$0 <br />$0 <br />$0 <br />Tax Value <br />$235,260 <br />$221,635 <br />$500,000 <br />$475,000 <br />$1,000,000 <br />$950,0001 <br />$2,000,000 <br />$1,900,000 <br />5.19% <br />5.19% <br />5.19% <br />5.19% <br />et) <br />2,353 <br />2,271 <br />5,000 <br />4,688 <br />11,250 <br />10,625 <br />23,750 <br />22,500 <br />ite <br />17.325% <br />17.241% <br />17.325% <br />17.241% <br />17.325% <br />17.241% <br />17.325% <br />17.241% <br />$407.66 <br />$391.54 <br />$866.25 <br />$808.17 <br />$1,949.06 <br />$1,831.86 <br />$4,114.69 <br />$3,879.23 <br />2016 <br />-$16.11 <br />-$58.08 <br />-$117.21 <br />-$235.46 <br />12016 <br />-3.95% <br />-6.70% <br />-6.01% <br />-5.72% <br />Tax Capacity (net) = 1 % of first $500,000 market value, plus 1.25% of all value over $500,000 <br />** Assumes a 5.0% decrease in value <br />Tax Levy Effect on Residential Property <br />