Municipal Property Tax Ratios and Calculating Levy Change and Notional Tax Rates Worksheet 2: Transition ratios, requested by municipality

WORKSHEET 2: TRANSITION RATIOS, REQUESTED BY MUNICIPALITY
Column (1) (2) (3) (4) (5) (6) (7)
Property Class 2006 Starting
Tax Ratios
Revenue Neutral
Ratios
Request-Based
Ratios
2005 General
Tax Rates
2006 Rates
Under
Starting Rates
Request-Based
2006 Rates
Annual
Year-End
Taxes
1. Residential 1.000000
1.000000
1.000000
0.800000%
0.792754%
0.760045%
$8,000
2. Multi-residential 1.250000
1.247357
1.250000
1.000000%
0.990943%
0.950056%
$5,000
3. New multi-residential 0.000000
0.000000
0.000000
0.000000%
0.000000%
0.000000%
$0
4. Commercial 2.000000
2.195349
2.100000
1.600000%
1.585508%
1.596094%
$13,360
5. Industrial 2.500000
3.049096
2.760000
2.000000%
1.981886%
2.097724%
$10,026
6. Pipeline 0.750000
0.807114
0.780000
0.600000%
0.592835 % 0.592835%
$60
7. Farm 0.250000
0.250000
0.250000
0.200000%
0.198189%
0.190011%
$400
8. Managed Forest 0.250000
0.250000
0.250000
0.200000%
0.198189%
0.190011%
$200
Totals             $37,046
WORKSHEET 2: TRANSITION RATIOS, REQUESTED BY MUNICIPALITY
Column (8) (9) (10) (11)
Property Class Revenue Under
Starting Ratios
Revenue Under
Request-Based
Ratios
Reassessment
Related
Tax Shift
Request-Based
Tax Shift
1. Residential $8,720
$8,360
$720
$360
2. Multi-residential $5,450
$5,225
$450 $225
3. New multi-residential $0 $0
$0 $0
4. Commercial $13,239
$13,327
-$121 -$33
5. Industrial $8,942
$9,464
-$1,084
-$562
6. Pipeline $61
$60
$1 $0
7. Farm $416
$399
$16 -$1
8. Managed Forest $218
$209
$18 $9
Totals $37,046
$37,046
$0 $0

Column Notes:

  1. 2006 starting tax ratios (column 6a of worksheet 1).

  2. Revenue neutral ratios (column 6 of worksheet 1).

  3. Municipality determines ratios between 2006 starting tax ratios (column 1) and the revenue neutral ratios (column 2).

  4. Single-tier or upper-tier general municipal tax rates including any 2005 levy increase under the levy restriction (column 3 of worksheet 1).

  5. Row 1 residential rate is the sum of column 4 in worksheet 1 divided by the sum of the starting 2006 ratio-weighted 2006 CVA.
    For rows 2 to 8, take column 5 row 1 and multiply by the respective rows in column 1.

  6. Row 1 residential rate is the sum of column 4 in worksheet 1 divided by the sum of the 2006 CVA weighted by the request-based ratios (column 3).
    For rows 2 to 8, take column 6 row 1 and multiply by the respective rows in column 3.

  7. Annualized year-end taxes (column 4 of worksheet 1).

  8. Product of respective rows in column 5 multiplied by the respective 2006 CVA (column 2 of worksheet 1).

  9. Product of respective rows in column 6 multiplied by the respective 2006 CVA (column 2 of worksheet 1).

  10. For each row, take the difference between the respective rows in columns 8 and 7.
    The sum of column 10 should equal zero.

  11. For each row, take the difference between the respective rows in columns 9 and 7.
    The sum of column 11 should equal zero.

Note:
A requested ratio should not result in a municipal tax increase on any class where the class was facing either a reassessment-related tax decrease or no change under the 2006 starting ratios.
A requested ratio should not result in a municipal tax increase greater than a reassessment-related tax increase that would have been incurred under the 2006 starting ratios.

DATE:__________________________ CLERK / TREASURER'S
SIGNATURE:
      ___________________________________
MUNICIPALITY:   ___________________________________