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Tax rates set for 2016-17 school year

Aug. 26, 2016

At its Aug. 25 meeting, the Monticello Board of Education adopted the district’s tax rate calculation for the 2016-17 school year that predicts an average tax rate decrease of 0.2 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 and Thompson will see a decrease in their tax bills during the 2016-17 school year, while residents of Forestburgh and Mamakating 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 $25.44 per $1,000 (vs. $25.53 last year) assessed value.
  • Residents in the town of Fallsburg will pay $29.35 per $1,000 (vs. $30.06 last year) assessed value.
  •  Residents in the town of Forestburgh will pay $243.97 per $1,000 (vs. $220.78 last year) assessed value.
  • Residents in the town of Mamakating will pay $27.82 per $1,000 (vs. $26.58 last year) assessed value.
  •  Residents in the town of Thompson will pay $21.18 per $1,000 (vs. $21.18 last year) assessed value.

Although the school district’s 2016-17 budget remains under the state-mandated cap and is below the legal tax levy limit, 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 towns of Forestburgh and Mamakating experienced the largest change this year,” Assistant Superintendent for Business Lisa Failla said. “These changes result in a larger portion of the total tax levy apportioned to these towns, therefore the tax rate per $1000 of assessed value increases.”

During budget development, the district strives to provide best programs for its students while minimizing the impact on the taxpayers. The tax cap formula would have allowed the district to increase the tax levy by 1.80 percent, however; an increase in state aid helped the district reduce the tax levy increase to 1.65 percent.

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.