(Due to an error, the dollar and percent increase for homeowners with Basic STAR were incorrect in the original story on Friday. We apologize for that error. The following story contains the correct information regarding the 2017 school tax rates.)
ALBANY, N.Y. (Aug. 18, 2017) -- ​The City School District of ÉðÊ¿Âþ»’s Board of Education set the 2017 tax rates Thursday night. Voters approved the total tax levy in May, and 2017 is the second time in a row the board has proposed, and voters have approved, a no-increase levy.
While the levy was approved by the voters in May, the actual tax paid by individual property owners is set in August, and is impacted by a number of factors including changes to assessed values. This year, despite the no-increase tax levy, these factors result in school taxes going up for homeowners, while business owners have an offsetting reduction in taxes.
For homeowners with Basic STAR, a home assessed at $150,000 will have a tax increase of 3.87 percent, or about $8 a month. For seniors with Enhanced STAR, a home of the same value will have an increase of 4.62 percent, or about $7 a month.
For business owners, the rate will decrease by nearly 2 percent. That’s a decrease of about $7 a month for a property assessed at $150,000. (To view the full presentation from Thursday's meeting, click here.)
City residents vote on the tax levy – the total amount of taxes the district receives each year to support its budget – each spring in the May budget vote. The levy has stood at $114 million for three years. Over the past seven years the district’s average tax levy increase has been less than 1 percent (0.9 percent). During that time, the district’s enrollment has grown by 12 percent.
The tax rates are set, based on the approved levy, after three additional factors are determined: the impact of the state’s STAR program, total assessed value and the portion of the total tax levy to be paid by homeowners and business owners – homestead and non-homestead properties.
The mission of the City School District of ÉðÊ¿Âþ» is to educate and prepare all students for college and career, citizenship and life, in partnership with our diverse community. The district serves nearly 9,700 students in 18 elementary, middle and high schools. In addition to neighborhood schools, the district includes several magnet schools and programs, as7 well as other innovative academic opportunities for students, including four themed academies at ÉðÊ¿Âþ».
