Tax Rate, Equalization Rate and Tax Rate History

Example tax bill, and equalization rates for two towns

The impact of the estimated tax rate for 2020-21 will vary based on each homeowner’s property assessment, and the equalization rate for the town in which you live. The town of Ogden currently has an equalization rate at 98%, and Parma has an equalization rate at 97%.
House Spencerport
School districts control one portion of your bill related to school taxes, which presents challenges when communicating tax rates and a homeowner saying “Yes, but my taxes are higher.” Both are correct.

In general, if a town’s equalization rate is less than 100, it means that overall, the property in the town is assessed at less than market value. (Meaning, if Ogden or Parma homeowners were to sell their home today, they would likely be able to sell it for an amount that is greater than their home’s assessed value.)

To calculate an equalization rate for a given town, which is done by the state (not the school district) and finalized in August before the start of the school year, the state takes the total assessed value of the municipality and divide it by the total market value of the municipality. The end result is the equalization rate.

Equalization Rate Chart

Example Tax Bills

Below are examples of tax bills for homeowners in our four towns, based on the respective equalization rates.

Examples of tax bills

Tax Rate History

Based on the proposed budget and anticipated revenues for 2020-21, Spencerport projects a 0.9% increase in the true value tax rate. The chart below provides the district’s tax rate history as reported over the last six years.

Chart of tax rate history

The 2020-21 tax rate is projected to increase .86% to $24.26/$1,000 of assessed value. Due to the changes in equalization rates for the towns of Gates, Ogden and Parma, the tax rate will be different for each. The Board of Education sets the actual tax rate in the summer.