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Levy Increase <br />Tax Capacity (N <br />Tax Capacity RE <br />Net City Tax <br />$ Increase from <br />% Increase frorr <br />Effect of 2018 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 />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 />$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 />7.88% <br />7.88% <br />7.88% <br />7.88% <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 />16.844% <br />17.062% <br />16.844% <br />17.062% <br />16.844% <br />17.062% <br />16.844% <br />17.062% <br />$396.34 <br />$387.49 <br />$842.20 <br />$799.80 <br />$1,894.95 <br />$1,812.88 <br />$4,000.45 <br />$3,839.04 <br />2017 <br />-$8.85 <br />-$42.40 <br />-$82.07 <br />-$161.41 <br />12017 <br />-2.23% <br />-5.03% <br />-4.33% <br />-4.03% <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 />