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CITY OF RAMSEY <br /> District No. 11 <br /> <br />Tax Calculation for $80,000 Home <br />vs. $80,000 Commercial l¥operty <br />Collectable 1984 <br /> City Portion <br /> <br />Assessed Value Calculation - Residential <br /> <br />1st $30,000 x .17 = <br /> <br />Znd $30,000 x .19 = <br /> <br />Balance $20,000 x .30 = <br /> <br />$ 5,100 <br /> 5,700 <br /> 6,000 <br /> <br /> Total Assessed Value $16,800 <br /> <br />Tax Before Credit <br /> <br /> $16,800 x .1015Z = $1,705.54 <br /> <br />Homestead Credit .54% of 1st $67,000 up to $650 <br /> <br />1st $30,000 x .17 = $ 5,100 <br />?.nd $30,000 x .19 = 5,700 <br />Balance $7,000 x .30 = Z,100 <br />Total Homestead <br /> Assessed Value <br /> <br />$1Z,900 <br /> <br />$12,900 x .10152 = $1,309.61 <br />$1,309.61 x .54 = $707.19 Total Credit <br /> <br />$650 Allowable <br /> <br />Total Tax <br /> <br /> $1,309.61 - $650 = $659.61 <br /> <br />After Credits <br /> <br /> $1,705.54- $1,309.61 = $395.93 <br /> $395.93 = $659.61 = $1,055.54 <br /> <br />City Share <br /> <br /> Total Assessed Value <br /> <br /> $16.800 x .01811 = $304.25 <br /> Total H.C.V. <br /> <br /> $1Z,900 x .01811 = $233.62 <br /> SZ33.6Z x .54 = $1Z6.15 <br /> <br />City Share <br /> <br />Assessed Value Calculation - Commercial <br /> <br />$50,000 x .34 = <br /> <br />$30,000 x .43 = <br /> <br />Total Assessed Value <br /> <br />Tax Calculation <br /> <br />$17,000 <br />12,900 <br /> <br />$29,900 <br /> <br />$29,900 x .01811 = $541.00 <br /> <br />Tax Dollar Comparison: <br /> <br />Residential $60,000 <br /> $89.97 <br /> <br />Residential $80,000 <br /> $178.10 <br /> <br />Commercial $60,000 <br /> $385.74 <br /> <br />Commercial $80,000 <br /> $54t.00 <br /> <br />$304.Z5 - $1Z6.75 = $178.10 <br /> <br /> <br />