Municipal Property Tax Ratios and Calculating Levy Change and Notional Tax Rates 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 |
| 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:
- 2006 starting tax ratios (column 6a of worksheet 1).
- Revenue neutral ratios (column 6 of worksheet 1).
- Municipality determines ratios between 2006 starting tax ratios
(column 1) and the revenue neutral ratios (column 2).
- Single-tier or upper-tier general municipal tax rates including
any 2005 levy increase under the levy restriction (column 3 of
worksheet 1).
- 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.
- 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.
- Annualized year-end taxes (column 4 of worksheet 1).
- Product of respective rows in column 5 multiplied by the respective
2006 CVA (column 2 of worksheet 1).
- Product of respective rows in column 6 multiplied by the respective
2006 CVA (column 2 of worksheet 1).
- For each row, take the difference between the respective rows
in columns 8 and 7.
The sum of column 10 should equal zero.
- 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: ___________________________________ |