The total budget is based on the school. The impact on you as a household owner depends on the assessed value the town has for your home. I know for my home this went up in years past but actually went down last year due to the economy lower the sale price on homes in our area.
Your school tax rate is impacted by the school budget and by your town’s assessed value on your house. The rate varies across our district but on average:
If your house is valued at $150,000 you likely paid about $3,000 in school tax last year and your total increase would be about $120/year (about $10.00 per month).
If your house is assessed at $200,000 you likely paid about $4,000 in school tax last year. This proposed tax levy increase would mean for you, an increase of about $160 more per year (just over $13.00 per month).
If your house is assessed at $250,000 you likely paid about $5,000 last year and your total increase would be about $200 (just under $17 per month)
* Note: These are approximate - it varies somewhat by town.
You should know there are property tax relief options out there for eligible people. New York State's School Tax Relief (STAR) Program provides property tax exemptions (also known as homestead exemptions) for New York homeowners. Basic STAR is available to anyone who owns and lives in his or her own home and earns less than $500,000. Enhanced STAR is available to senior homeowners whose incomes do not exceed $79,050.
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