Split tax rate examples

Fiscal 2014 Classification Hearing

No Shift Factor:

At no shift with a preliminary projected rate of$16.12 on residential property valued at $600,000 is $9,672.00.

A preliminary projected rate of $16.12 on commercial/industrial property valued at $600,000 is $9,672.00. .

The impact of 150% shift in the tax burden for Fiscal 2014 150% Shift Factor:

Tax rate of$15.63 for residential/open space on property valued at $600,000 is $9,380.00

Tax rate of $24.18 for commercial/industrial/personal property valued at $600,000 is $14,508.00.

A shift for RJO would save the residential taxpayer $292.00

A shift for C/VP would increase the commercial tax by $4,836.00

Please note: For purposes of this hearing the tax rate is an example only. The final rate will be determined after the Department of Revenue has approved the Tax Recap. Any rate spoken or written about is an estimate!

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