Revenues, tax levy and tax rate

 
On this page you'll also find:
 scroll down for equalization rates   Estimated school tax bill 

Summary of Revenues


The following chart summarizes the anticipated revenues for 2023-24. The proposed tax levy is the amount needed to balance the budget, and is:
  • $42,596,762, which is a 2.6% increase, and
  • $1.9 million less than the maximum allowable levy limit with exclusions, which would have been $44,557,347.

Total revenues to balance the budget: $92,744,041
Pie chart of revenues 2023

Property Tax Cap - Historical


Tax levy, tax cap and variance

Tax levy, tax cap and variance
 What is Spencerport’s allowable tax levy limit? 

Spencerport’s allowable tax levy limit is 7.35% for a simple majority vote; however, the proposed tax levy increase is 2.6%.

This variance means that SCSD is $1.9 million below the maximum allowable levy limit with exclusions, which requires a simple majority approval.

 What is an allowable tax levy limit? 

For school districts, the tax levy limit is the highest allowable levy that a school district can propose as part of its annual budget for which only the approval of a simple majority of voters (more than 50 percent) is required.

Any proposed tax levy amount above this limit will require budget approval by a supermajority (60% or more) of voters. 

How will equalization rates impact taxes?


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. This is a result of the current housing market, in which homeowners are able to sell their property for amounts greater than its assessed value.

 Drawing of a house    Drawing of a house that is comparatively bigger
Assessed value
  ≠ Market value

Calculating an equalization rate for a given town takes place at the state level. New York State takes the total assessed value of the municipality and divides it by the total market value of the municipality. The end result is the equalization rate.

This is done in an effort to equitably distribute the tax burden between towns when reassessments have not occurred.
  Town 2022 2023
 Arrow pointing right Gates 91% 83%
Greece  86% 86%
Ogden 82% 69%
  Parma 81% 71%


Towns finalize their assessments in the summer, and once confirmed, the school board adopts the established tax rate.  
  

Additional resources:

NYS: understanding equalization rates for property owners
 
 A brief video on equalization rates may be found below. 

Estimated impact on school taxes



The impact of the estimated tax rate for 2023-24 will vary based on each homeowner’s property assessment, and the equalization rate for the town in which you live. The towns of Ogden, Greece, Gates and Parma have not conducted full reassessments, therefore equalization rates will once again complicate the tax bill estimates, much like last year. 


*It is important to reiterate that the tax rates are estimates only. The levy and rate are set in the summer once each town’s property assessments are finalized. The following chart compares last year’s actual rates with the 2023 projections for each of the four towns on a home valued at $250,000: 

2022-23 2023-24* Year-to-Year comparison
Town Tax rate/ $1,000
 School tax bill Tax rate/ $1,000
 School tax bill % Change Annual
Change*		 Monthly
Change*
Gates $21.24 $5,310 $21.53 $5,383 1.4% $73 $6
Greece $22.49 $5,623 $20.78 $5,195 (-)7.6% (-)$428 (-)$36
Ogden $23.58 $5,895 $25.90 $6,475 9.8% $580 $48
Parma $23.85 $5,963 $25.17 $6,293 5.5% $330 $28

2022-23 comparison across Monroe County



The true value tax rate is determined by tax levy divided by the full market value within the entire district, not by town.

Countywide comparison