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Levy Increase <br />Tax Capacity (N <br />Tax Capacity R, <br />Net City Tax <br />$ Increase from <br />% Increase from <br />Effect of 2018 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 />Actual <br />Estimated <br />Actual <br />Estimated <br />Actual <br />Estimated <br />Actual <br />Estimated <br />2017 <br />2018 <br />2017 <br />2018 <br />2017 <br />2018 <br />2017 <br />2018 <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 />5.32% <br />5.32% <br />5.32% <br />5.32% <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 />ite <br />16.844% <br />17.204% <br />16.844% <br />17.204% <br />16.844% <br />17.204% <br />16.844% <br />17.204% <br />$396.34 <br />$428.21 <br />$842.20 <br />$913.97 <br />$1,894.95 <br />$2,042.99 <br />$4,000.45 <br />$4,301.03 <br />2017 <br />$31.87 <br />$71.77 <br />$148.04 <br />$300.58 <br />12017 <br />8.04% <br />8.52% <br />7.81% <br />7.51% <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 />