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25. <br /> <br />FACTS: <br /> <br />VAI,UE: <br /> <br /> FRACTIONAL HOMESTEAD <br /> <br />300 ACRE FARM, TWO OWNERS WITH EACH HAVING UNDIVIDED ONE-HALF <br />INTEREST, ONE OWNER OCCUPYING THE PROPERTY. <br /> <br />BUILDINGS, $40,000 LAND, 300 X $500/AC = $150,000 <br /> <br /> A <br /> 160 AC <br /> Bldgs. <br /> <br /> $ 40,000 <br /> 80~000 <br />$120,000 <br /> <br />B <br />140 AC <br />$ 70,000 <br /> <br />TO'rAI, ESTIMATED MARKET VALUE $190,000 <br /> <br />TOTAL ASSESSED VALUE <br /> <br />$ 34,750 <br /> <br />Assessed Value Breakdown <br /> <br />Parcel A <br /> <br />Class 3b <br />Class 3b <br /> <br />$27,000 X 14%= $ 3,780) = $10,050 Homestead Credit Portion <br />$33,000 X 19%= $ 6,270) (80 acres and 1/2 the buildings) <br /> <br />Class 3 <br /> Total <br /> <br />Parcel B <br /> <br />$60,000 X 19%= $11~400 <br /> $21,450 <br /> <br />Class 3b <br />Class 3b <br />Class 3 <br /> Total <br /> <br />Total Assessed <br /> <br />$20,000 X 19%= $ 3,800 <br />$15,000 X 19%= $ 2,850 <br />$35,000 X 19%= $.6~650 <br /> $13,300 <br /> <br />$34,750 <br /> <br />Homestead Credit Portion (40 acres) <br /> <br />VALUE AND ACREAGE SUBJECT TO 18 MILL AGRICULTURAL AID CREDIT <br /> <br />Parcel A 80 acres $10,050 A.V. <br />Parcel B 70 acres $ 6~650 A.V. <br /> 1~0 acres $16,700 A.V. <br /> <br />REMAINING 150 ACRES AND $17,050 IS SUBJECT TO 10 MILL AG. AID CREDIT <br /> <br />-12- <br /> <br /> <br />