Orange County NC Website
, "r•; <br /> APPENDIX I <br /> EXAMPLE OF TAX BENEFITS <br /> FOR <br /> PARTICIPATING FARMERS <br /> • <br /> CASE EXAMPLE: 200 ACRE FARM <br /> 54.40 per $100.00 valuation <br /> .00544 tax rate <br /> ASSESSMENT VALUE PROPERTY TAX TAX SAVINGS <br /> MARKET VALUE $250,400 $1,360 ---------- <br /> • <br /> USE VALUE $115 000 $625 $735 <br /> CLASS C $103,500 $563 $797 <br /> ( 10% reduction <br /> in use value <br /> assessment)1 <br /> CLASS 0 <br /> $92,003 $500 $86o <br /> (20% reduction <br /> in use value <br /> ( assessment) <br /> • — <br /> • CLASS 0 $20,000 $109 $109 <br /> (freeze on <br /> assessment of <br /> new structures) <br /> CLASS 0 <br /> -TOTAL ANNUAL TAX <br /> SAVINGS $969 <br /> 12 <br />