Board sets tax rate for 2019-20

Board sets tax rate for 2019-20

The Board of Education approved a 2019-20 tax rate during its meeting on July 16, after the towns of Ogden, Gates, Greece and Parma finalized and submitted their official property assessment reports.

Overall assessments proved lower than previously forecasted, and even less than the 2018-19 school year. The decrease in assessments totaled $4 million or -0.26%. Despite this decline, the tax rate for three of four towns will remain at the amount communicated prior to the school budget vote in May.

The Board of Education accomplished this tax rate by unanimously approving the use of $60,000 of appropriated fund balance to lower the tax levy. This results in a tax rate of $24.05/$1,000 of assessed value for Ogden, Greece, and Parma.

The town of Gates experienced more significant factors impacting its assessments, and the Board’s concerted efforts to use appropriated fund balance will help to offset a tax rate increase there. Gates reported a decrease in its assessed property value due to a:

  • 96% equalization rate; and
  • an article 7 settlement in which a business challenged its taxable value of $44.9 million (in 2018-19), and won a decision that its value is now $20.2 million. This represents a loss of school taxable value of $24.7 million.

Given these factors, the tax rate for the town of Gates will be $25.05/$1,000 of assessed value, which is a 5.79% change.

The tax rate for the four towns will be as follows:

List of tax rates for 4 towns

The adopted tax levy and tax rate for the 2019-20 school year remained under the maximum allowable levy limit, and within the eligibility requirements for community members to receive tax rebates.

Examples of a tax bill:

Example tax bill

 Example of Gates tax bill

If you have any questions regarding your property assessment, please contact your town assessor’s office.

*There have been some updates this year to the New York State STAR program as it relates to school tax bills and exemptions. Please visit, https://www.tax.ny.gov/star/ to review these changes and qualifications.