The Council decided to lower the business tax ratio from 3.03 to 2.75 without resorting to using any of the 2006 operating surplus to help the Residential Taxpayer.
Consequently the original tax rate/1000 (not including fire) was increased from
2.26095 t0 2.32385 for the Residential Tax Class. This small difference is only .0629/1000 of assessment.
The following is a cheat sheet to illustrate the effect on various taxpayers in the Residential Class: (The property in red is the 'average' property:) This is an increase to taxes !
| 100,000 | 0.063 | $6.29 |
| 200,000 | 0.063 | $12.58 |
| 287,000 | 0.063 | $18.05 |
| 300,000 | 0.063 | $18.87 |
| 400,000 | 0.063 | $25.16 |
| 442,000 | 0.063 | $27.80 |
| 500,000 | 0.063 | $31.45 |
| 1,000,000 | 0.063 | $62.90 |
This portion of your tax increase represents the $275,000 that was charged to the residential tax class and credited to the business tax class.
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Business Taxpayer Cheat Sheet.
The original tax rate/1000 (not including fire) was decreased from 6.86074 t0 6.4003 For the Business Class. This difference is .4604/1000 of assessment.
The following is a cheat sheet to illustrate the effect on various taxpayers in the Business Class: (The property in red is the 'average' property:) (The 3 million property is a big bank.)
| Assessment | tax saving | Amount Saved |
| 100,000 | 0.4604 | $46.04 |
| 200,000 | 0.4604 | $92.08 |
| 287,000 | 0.4604 | $132.13 |
| 300,000 | 0.4604 | $138.12 |
| 400,000 | 0.4604 | $184.16 |
| 442,000 | 0.4604 | $203.50 |
| 500,000 | 0.4604 | $230.20 |
| 570,000 | 0.4604 | $262.43 |
| 1,000,000 | 0.4604 | $460.40 |
| 3,000,000 | 0.4604 | $1,381.20 |
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