2002 Class Rates - House Research

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Class Rates for Taxes Payable in 2002

Property Type Pay 2001 Pay 2002

Class Rate Class Rate Subject to
State Tax? Subject to
Operating (excess
levy) Referenda?¹

Disabled homestead up to $32,000 0.45% 0.45% no yes

Residential Homestead

Up to $76,000
1.0 1.0 no yes

$76,000-$500,000
1.65 1.0 no yes

Over $500,000
1.65 1.25 no yes

Residential Nonhomestead²

Single unit

Up to $76,000
1.2 1.0 no yes

$76,000-$500,000
1.65 1.0 no yes

Over $500,000
1.65 1.25 no yes

2-3 unit and undeveloped land 1.65 1.5³ no yes

Apartments

Regular
2.4 1.8⁴ no yes

Small city
2.15 1.8⁴ no yes

Low-income
1.0 0.9⁵ no yes

Commercial-Industrial-Public Utility

Up to $150,000
2.4 1.5 yes yes

Over $150,000
3.4 2.0 yes yes

Electric generation machinery
3.4 2.0 no yes

Seasonal Recreational Commercial

Homestead resorts (1c) 1.0 1.0 no yes

Seasonal resorts (4c)

Up to $500,000
1.65 1.0 yes yes

Over $500,000
1.65 1.25 yes yes

Seasonal Recreational Residential

Up to $76,000
1.2 1.0 yes⁶ no

$76,000-$500,000
1.65 1.0 yes no

Over $500,000
1.65 1.25 yes no

Agricultural Land & Buildings

Homestead⁷

Up to $115,000
0.35 0.55 no no

$115,000-$600,000
0.8 0.55 no no

Over $600,000
1.2 1.0 no no

Nonhomestead 1.2 1.0 no no

Miscellaneous Properties

Golf courses (open to public)
1.65 1.25 no yes

Nonprofit service organizations
1.65 1.5 no yes

Fraternity/sorority houses
1.2 1.0 no no

Manufactured home park land
1.65 1.5³ no yes

Metro indoor rec. facilities
1.65 1.25 no yes

Noncommercial aircraft hangars
1.65 1.5 no yes

¹ School operating referendum levies (sometimes called "excess levy" referenda) and all county, city, and town referendum levies are levied on referendum market value. School debt levies are levied against all property based on net tax capacity. ² Includes dwellings located on agricultural nonhomestead property. ³ Rate reduced to 1.25% in pay 2003 and thereafter.
⁴ Rate reduced to 1.5% in pay 2003 and 1.25% in pay 2004 and thereafter.
⁵ Rate increased to 1.0% in pay 2003, classification abolished in pay 2004.
⁶ Taxed at 40% of regular state rate.
⁷ House, garage, and one acre has same class rates and is generally treated the same as residential homestead.

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Property Type	Pay 2001	Pay 2002
	Class Rate	Class Rate	Subject to State Tax?	Subject to Operating (excess levy) Referenda?¹
Disabled homestead up to $32,000	0.45%	0.45%	no	yes
Residential Homestead
Up to $76,000	1.0	1.0	no	yes
$76,000-$500,000	1.65	1.0	no	yes
Over $500,000	1.65	1.25	no	yes
Residential Nonhomestead²
Single unit
Up to $76,000	1.2	1.0	no	yes
$76,000-$500,000	1.65	1.0	no	yes
Over $500,000	1.65	1.25	no	yes
2-3 unit and undeveloped land	1.65	1.5³	no	yes
Apartments
Regular	2.4	1.8⁴	no	yes
Small city	2.15	1.8⁴	no	yes
Low-income	1.0	0.9⁵	no	yes
Commercial-Industrial-Public Utility
Up to $150,000	2.4	1.5	yes	yes
Over $150,000	3.4	2.0	yes	yes
Electric generation machinery	3.4	2.0	no	yes
Seasonal Recreational Commercial
Homestead resorts (1c)	1.0	1.0	no	yes
Seasonal resorts (4c)
Up to $500,000	1.65	1.0	yes	yes
Over $500,000	1.65	1.25	yes	yes
Seasonal Recreational Residential
Up to $76,000	1.2	1.0	yes⁶	no
$76,000-$500,000	1.65	1.0	yes	no
Over $500,000	1.65	1.25	yes	no
Agricultural Land & Buildings
Homestead⁷
Up to $115,000	0.35	0.55	no	no
$115,000-$600,000	0.8	0.55	no	no
Over $600,000	1.2	1.0	no	no
Nonhomestead	1.2	1.0	no	no
Miscellaneous Properties
Golf courses (open to public)	1.65	1.25	no	yes
Nonprofit service organizations	1.65	1.5	no	yes
Fraternity/sorority houses	1.2	1.0	no	no
Manufactured home park land	1.65	1.5³	no	yes
Metro indoor rec. facilities	1.65	1.25	no	yes
Noncommercial aircraft hangars	1.65	1.5	no	yes