Taxes: the Levy, Rate, School Bill, History

Tax levy

The tax levy is the total sum of operating funds to be raised by the school district after subtracting revenue streams, including state aid and federal aid.

The tax levy is used to determine the tax rate in each municipality that comprises the Spencerport Central School District. (Ogden, Greece, Parma, Gates).

 Proposed Budget Expenditures for 2018-19
 $81,151,600
 Proposed Revenue (state aid, local taxes, etc)
 -$41,414,197
 Subtotal  $39,737,403
 Proposed Use of Reserve Funds
-$ 1,957,085
 Proposed Use of Appropriated Fund Balance
-$    534,739
 Total Tax Levy* (2.57%) proposed
 $37,245,579
 2018-19 Maximum Allowable Levy Limit (2.74%)
 $37,304,816

*A tax levy under the maximum allowable limit ensures homeowners will also qualify for the rebate checks in the fall.

Tax Rate

0% increase in projected true value tax rate $24.33/$1,000

Based on the proposed budget and anticipated revenues for 2018-19, Spencerport has projected no increase in the true value tax rate.

The chart below provides an example of a tax bill, including the Basic STAR exemption of $30,000. Please note that homeowners whose property has been reassessed this year will experience an increase in their tax bill, depending on their updated valuation. 

Year
Assessed Value
Tax Rate
Tax Bill
 Difference
 2017-18  $150,000 (-$30K STAR)
 $24.33/$1,000  $2,920  
 2018-19  $150,000 (-$30K STAR)
 $24.33*/$1,000  $2,920  0
* The Board of Education sets the actual rate in the summer.
 
History of the tax rate in Spencerport

Based on the proposed budget and anticipated revenues for 2018-19, Spencerport projects a ZERO increase in the true value tax rate. The chart below provides the district’s tax rate history as reported over the last six years.

History of Tax Rate

What is STAR?

According to the NYS Department of Taxation and Finance, there are two types of STAR exemptions:

Basic STAR

  • available for owner-occupied, primary residences where the resident owners' and their spouses income is less than $500,000
  • exempts the first $30,000 of the full value of a home from school taxes

Enhanced STAR

  • provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes

If you receive the Basic or Enhanced STAR exemption, the amount of your savings is listed on the bill and is used to decrease the amount you owe.