Multi- Residential	0.03245358	0.00153000	0.03398358	0.03417788	-0.57%
Commercial	0.03274263	0.01250000	0.04524263	0.04577237	-1.16%
Office Building	0.03274263	0.01250000	0.04524263	0.04577237	-1.16%
Shopping Centre	0.03274263	0.01250000	0.04524263	0.04577237	-1.16%
Parking Lot	0.01649809	0.00822145	0.02471954	0.02508694	-1.46%
Industrial	0.03764615	0.01250000	0.05014615	0.05067874	-1.05%
Large Industrial	0.04767593	0.01250000	0.06017593	0.06074384	-0.93%
Pipeline	0.03128929	0.01250000	0.04378929	0.04429949	-1.15%

It should be noted that all of the final 2020 Tax rates for each property class are lower than the 2019 Final Tax rates. This is primarily due to the increase in property assessment values for all property classes and lower education tax rates. For the property owner that has no change in assessment from the prior year, there will be a property tax decrease. For property owners that have an increase in assessment there will likely be a property tax increase. The degree to which the property tax will increase will depend upon the degree to which the increase compares to the average increase within the property class. The following chart illustrates the overall impact on $150,000 of property assessment when the lower tax rate is applied to the higher property assessment.

Tax Class	% Change in Assessment Value	$ Increase in Total Tax	% Change from 2019
Residential	2.94%	$57.73	2.15%
Farmland	3.55%	$18.50	2.76%
New Multi- Residential	8.40%	$203.16	7.57%
Multi- Residential	8.16%	$386.81	7.55%
Commercial	1.94%	$52.20	0.76%
Office Building	2.29%	$75.95	1.11%
Shopping Centre	2.83%	$112.59	1.40%
Parking Lot	4.05%	$95.06	2.53%
Industrial	1.91%	$63.78	0.84%