Impact of Property Value Reassessment on School Taxes
Explaining the impact of property value reassessment on school taxes, this content clarifies misconceptions surrounding tax levy changes. Despite shifts in tax burdens, the overall tax levy remains unchanged, ensuring fair tax distribution.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Property Value Reassessment and Your School Taxes What does it mean for you?
Does a property reassessment increase the amount that schools collect in taxes? NO it does NOT!
With a reassessment comes a shift in the tax burden to those whose property values have risen. However, this process does NOT result in new revenue for the school district (The school district is not asking for nor receiving more money as a result of a reassessment).
Think of the tax levy as a pie - a finite amount - although reassessment MAY impact how the pie is cut, the size of the pie as a whole is not impacted
In other words, the assessment/assessor does not impact the size of the pie - just ensures that the pie is cut up fairly - so that taxes are fairly distributed. THE AMOUNT OF THE TAX LEVY DOES NOT CHANGE
The proposed 2022-2023 budget includes a tax levy of $14,380,174. This is the entire tax levy for all municipalities within the district: Mechanicville, Stillwater, Halfmoon & Schaghticoke and will not increase as a result of the reassessment in the City of Mechanicville.
The district calculates the tax rates for each municipality in August after the local assessors have finalized the assessment roles and any applicable corrections or adjustments have been made.
