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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% Increase 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% Increase 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 />$262,500 <br />$500,000 <br />$525,000 <br />$1,000,000 <br />$1,050,000 <br />$2,000,000 <br />$2,100,000 <br />MVE <br />$14,740 <br />$13,615 <br />$0 <br />$0 <br />$0 <br />Tax Value <br />$235,260 <br />$248,885 <br />$500,000 <br />$525,000 <br />$1,000,000 <br />$1,050,0001 <br />$2,000,000 <br />$2,100,000 <br />5.19% <br />5.19% <br />5.19% <br />5.19% <br />et) <br />2,353 <br />2,489 <br />5,000 <br />5,313 <br />11,250 <br />11,875 <br />23,750 <br />25,000 <br />ate <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 />$429.13 <br />$866.25 <br />$915.93 <br />$1,949.06 <br />$2,047.37 <br />$4,114.69 <br />$4,310.25 <br />2016 <br />$21.47 <br />$49.68 <br />$98.31 <br />$195.56 <br />12016 <br />5.27% <br />5.73% <br />5.04% <br />4.75% <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% Increase in value <br />Tax Levy Effect on Residential Property <br />