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Tax rates set for 2015-16 school year

August 25, 2015

At its Aug. 20 meeting, the Monticello Board of Education adopted the district’s tax rate calculation for the 2015-16 school year that predicts an average tax rate decrease of 4.7 percent.

Tax rates may vary from year-to-year due to changes in equalization rates, which are determined by the New York State Office of Real Property Services, and property assessments, which are determined at the town level.

Tax rates may differ among the towns within a school district because each property is individually assessed in relation to its full market value. Every summer, the state assigns an equalization rate for each town that creates an assessment value equal to its full market value. This process is intended to ensure that each town pays its fair share of school taxes based on the town’s market value.

These calculations anticipate that residents of Bethel, Fallsburg, Mamakating and Thompson will see a decrease in their tax bills during the 2015-16 school year, while residents of Forestburgh will see an increase in their tax bills.

Tax rates for the towns that comprise the school district are as follows:

  • Residents in the town of Bethel will pay $25.53 per $1,000 (vs. $26.98 last year) assessed value.
  • Residents in the town of Fallsburg will pay $30.06 per $1,000 (vs. $30.09 last year) assessed value.
  • Residents in the town of Forestburgh will pay $220.78 per $1,000 (vs. $200.81 last year) assessed value.
  • Residents in the town of Mamakating will pay $26.58 per $1,000 (vs. $28.47 last year) assessed value.
  • Residents in the town of Thompson will pay $21.18 per $1,000 (vs. $22.48 last year) assessed value.

Although the school district’s 2015-16 budget remains under the state-mandated cap and carries a tax levy decrease, property owners’ tax rates may increase or decrease because of changes in their assessment or the town’s equalization rate.

“The equalization rate in the Town of Forestburgh increased by 15.4% this year,” Assistant Superintendent for Business Lisa Failla said. “This increase results in a larger portion of the total tax levy apportioned to the Town of Forestburgh. Also, the total assessed value decreased slightly for the Town, therefore the tax rate increases.”

Although Forestburgh’s tax rate increased, it is important to note that the overall reduction of the district’s tax levy, decreased tax rates by about 37 percent.

“If the tax levy had remained the same from the 2014-15 school year, Town of Forestburgh residents with a home assessed at $20,000 would have seen an increase in their tax bill of about $630.00,” Mrs. Failla said. “With the reduced tax levy, those same residents will see an increase of about $400.”

The school district has no control over property assessments or equalization rates; it only controls the tax levy. Questions about assessments and equalization rates should be directed to the appropriate town assessor’s office.