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Saturday, May 27, 2017

Tax Impact of the Bond

What is the tax impact of the bond?

After taking into account the district’s 59.5% state building aid, the direct cost to the taxpayers would be approximately $7 million. At this time the district will benefit from New York State providing additional aid on a number of projects that deal with safety and security.

The figures in the chart below are approximate annual costs based on average home values. As you can see, the first tax impact is not until 2015-16 and the amount is expected to decrease in 2016-17 and beyond.

Home Value

2013-14

2014-15

2015-16

2016 & beyond

$250,000

0

0

$43 /yr

$33 /yr

$300,000

0

0

$51 /yr $39/yr

$400,000

0

0

$68 /yr

$52 /yr













last updated: 10/31/13