Municipal Property Tax Ratios and Calculating Levy Change and Notional Tax Rates Worksheet 1: Transition ratios, revenue-neutral by class

WORKSHEET 1: TRANSITION RATIOS, REVENUE-NEUTRAL BY CLASS
Column (1) (2) (3) (4) (5) (6) (6a)
Property Class Matched
Year-end 2005 CVA
2006 CVA 2005 General
Tax Rates
Annualized
Year-end Taxes
Revenue
Neutral
2006 Rates
Revenue
Neutral
Ratios
2006 Starting
Tax Ratios
1. Residential $1,000,000 $1,100,000 0.800000 % $8,000 0.728814 % 1.000000 1.000000
2. Multi-residential $500,000 $550,000 1.000000 % $5,000 0.909091 % 1.247357 1.250000
3. New multi-residential $0 $0 0.000000 % $0 0.000000 % 0.000000 0.000000
4. Commercial              
4a     Occupied $800,000 $800,000          
4b     Vacant Excess $50,000 $50,000          
4c     Vancany Adjustment 70% 70%          
4d  Total Vacancy Adjusted $835,000 $835,000 1.600000 % $13,360 1.600000 % 2.195349 2.000000
5. Industrial              
5a     Occupied $500,000 $450,000          
5b     Vacant Excess $2,000 $1,800          
5c     Vacany Adjustment 65% 65%          
5d  Total Vacancy Adjustment $501,300 $451,170 2.000000 % $10,026 2.222222 % 3.049096 2.500000
6. Pipeline $10,000 $10,200 0.600000 % $60 0.588235 % 0.807114 0.750000
7. Farm $200,000 $210,000 0.200000 % $400 0.182203 % 0.250000 0.250000
8. Managed Forest $100,000 $110,000 0.200000 % $200 0.182203 % 0.250000 0.250000
Totals $3,162,000 $3,282,000   $37,046      
WORKSHEET 1: TRANSITION RATIOS, REVENUE-NEUTRAL BY CLASS
  Ratio Calculation Verification
Column (7) (8) (9) (10)
Property Class Ratio Weighted 2006 CVA Verification
Rules
Verification
Revenues
Revenue
Difference
1. Residential $1,100,000 0.728814 % $8,017 $17
2. Multi-residential $686,047 0.909091 % $5,000 $0
3. New multi-residential $0 0.000000 % $0 $0
4. Commercial        
4a     Occupied        
4b     Vacant Excess        
4c     Vancany Adjustment        
4d  Total Vacancy Adjusted $1,833,116 1.600000 % $13,360 $0
5. Industrial        
5a     Occupied        
5b     Vacant Excess        
5c     Vacany Adjustment        
5d  Total Vacancy Adjustment $1,375,660 2.222222 % $10,026 $0
6. Pipeline $8,233 0.588235 % $60 $0
7. Farm $52,500 0.182203 % $383 -$17
8. Managed Forest $27,500 0.182203 % $200 $0
Totals $5,083,056   $37,046 $0

Column Notes:

  1. 2005 matched year-end assessment based on RTC's with taxable RTQ's of T, U, X, P, Q, R, H, J, K, and M. Also includes PIL RTQ's of F, G, V, W, Y, and Z.
    Enter the commercial and industrial vacancy adjustment factors adopted by the municipality (rows 4c and 5c).
    For row 4d, multiply row 4b by 4c and add 4a. For row 5d, multiply row 5b by 5c and add 5a.
  2. 2006 current value assessment from roll as returned or adjusted based on RTC's with taxable RTQ's of T, U, X, P, Q, R. H, J, K, and M. Also includes PIL RTQ's of F, G, V, W, Y, and Z.
    Enter the commercial and industrial vacancy adjustment factors adopted by the municipality (rows 4c and 5c).
    For row 4d, multiply row 4b by 4c and add 4a. For row 5d, multiply row 5b by 5c and add 5a.
  3. Single-tier or upper-tier general municipal tax rates including any 2005 levy increase under the levy restriction.
  4. Product of respective rows in columns 1 and 3.
  5. Row 1 residential rate is the sum of column 4, rows 1,3, 7, and 8 divided by sum of column 2, row 1 plus column 2, row 3 multiplied by the new multi-residential ratio adopted by the municipality
    plus 0.25 or farm ratio adopted by the municipality multiplied by column 2, row 7
    plus 0.25 multiplied by column 2, row 8.
    For row 2 and rows 4-6, divide respective rows in column 4 by respective rows in column 2
    For row 3, multiply column 5, row 1 by the new multi-residential ratio adopted by the municipality.
    For row 7, multiply column 5 row 1 by 0.25 or farm ratio adopted by the municipality.
    For row 8, multiply column 5 row 1 by 0.25.
  6. For rows 1 to 6, divide respective rows in column 5 by column 5, row 1.
    For row 3, enter the new multi-residential ratio adopted by the municipality.
    For row 7, enter 0.25 or farm ratio adopted by the municipality. For row 8, enter 0.25.
  7. Product of respective rows in columns 2 and 6.
  8. Row 1 is the sum of column 4 divided by the sum of column 7.
    Rows 2 to 8 are products of column 8, row 1 multiplied by the respective rows in column 6.
  9. Product of respective rows in columns 2 and 8.
  10. For each row, take the difference between the respective rows in column 9 less column 4.
    Rows 2, 4d, 5d, and 6 should equal zero. Rows 1, 7, and 8 may vary. The sum of column 10 should equal zero.
DATE:__________________________ CLERK / TREASURER'S
SIGNATURE:
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MUNICIPALITY:   ___________________________________