Tax bill: estimates and examples

The impact of the estimated tax rate for 2021-22 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 93% (down further from last year at 98%), and Parma has an equalization rate at 91% (down further from last year at 97%).
Town Equalization
Rate
Tax Rate % Change
 Ogden  93%  $24.56  3.35%
 Gates  100%  $22.84  -2.04%
 Greece  100%  $22.84  -2.11%
 Parma  91%  $25.10  4.40%

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 equalization91% 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 divides it by the total market value of the municipality. The end result is the equalization rate.

Below are examples of tax bills for homeowners in our four towns, based on the respective equalization rates. Please note the Board of Education establishes the true value tax rate in the summer.

Estimated tax bill for a home valued at $150,000

Estimated tax bill for home valued at $180,000

Estimated tax bill for home valued at $225,000