The last question related to the bond aspect of the Upper Arlington ballot issue. Now we will examine the property tax (Levy) element of Issue #43.

Potentially Relevant Property Tax Info

Assessment Rate*	32.3%
Reduction Rate*	39.5%
Owner occupied credit*	7.7%
Non-business credit*	2.0%

3a) Find the Tax Subtotal for a residence with a market value of $425,000. Show all work.

3b) Using what you found above, calculate the Net Taxes collected per year for a residential property? Show all work.

3c) Assuming they have the same assessed value, how would the Net Taxes collected per year for a residential property differ from the Net Taxes collected per year from a commercial (business) property?