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<br />NOTE: For property taxes payable in 1989, taxes were determined by multiplying <br />the gross tax capacity by the tax capacity rate, expressed as a percentage. <br />This replaced the use of assessed value multiplied by mill rates. Beginning <br />with taxes payable in 1990, net tax capacity has replaced gross tax capacity <br />as the basis on which taxes are levied. <br /> <br />. <br /> <br />Adopted December 21, 2006 <br /> <br />-5- <br />