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Business Office - Updates

Business Office - Updates. 5 Year Plan 2% Tax Cap 2% inc in tax bill Other items affecting tax cap School Tax Relief Program (STAR). 5 Yr Plan. 5 Year Plan. Budget increases w/o peaks and valleys 2008/09 = 3.44% 2009/10 = 3.21% 2010/11 = 3.13% 2011/12 = 2.97%

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Business Office - Updates

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  1. Business Office - Updates • 5 Year Plan • 2% Tax Cap 2% inc in tax bill • Other items affecting tax cap • School Tax Relief Program (STAR)

  2. 5 Yr Plan

  3. 5 Year Plan • Budget increases w/o peaks and valleys • 2008/09 = 3.44% • 2009/10 = 3.21% • 2010/11 = 3.13% • 2011/12 = 2.97% • Tax Levy increases w/o peaks and valleys • 2008/09 = 1.24% • 2009/10 = 2.47% • 2010/11 = 4.91% • 2011/12 = 5.29% • Debt Service Plan / Capital Plan • No new bond issuances – saved in capital reserve • Cooperative Purchasing • Utilizing BOCES, ED Data, and numerous State, County, and District bids. This is reviewed by Claims Auditors – positive report – see web.

  4. 2 % Increase in Tax Bill 2 % Tax Cap

  5. 2 % Increase in Tax Bill 2 % Tax Cap • Tax Cap • Pertains only to total amount of district’s levy (State formula – will not result in 2% increase in tax levy) • 2% inc on tax levy with certain pieces of the formula that allow for an overall increase in levy to exceed 2% • Tax Bill • Affected by homes assessment (County) • Assessment can go down and tax bill still go up (ex. on next slide) • Affected by total assessment of Class 1 taxpayers in community (County) • Affected by breakout of levy to 4 classes (ORPS/County) • Affected by tax levy (District)

  6. Example – Tax bill increases while Assessed Value decreases

  7. Other items affecting Tax Cap

  8. Other Items Affecting the Tax Cap • Possibly – Tax Certioraris (County transfers responsibility to district) • Other revenue sources not reliable • State Aid Cuomo: State Budget Deficit Growing, Competitive Grants Available to Schools The New York Post reported that Governor Andrew Cuomo believes that the current year state budget deficit is growing. “It’s fair to say” that state revenue collections have “slowed down” and the projected deficit for the state fiscal year beginning April 1 will top the $2.4 billion his administration previously forecasted. It was also reported that Robert Megna, Cuomo’s Budget Director, sent an October 31st memo to state agency commissioners requiring a 2.5% cut to their 2012-2013 budgets. These most recent deficit related announcements will most certainly place in jeopardy the $805 million school aid increase built into the 2012-2013 state budget.

  9. School Tax Relief Program (STAR)

  10. The 2010-2011 total assessed value equals 1,021. The taxpayer and the State share in the payment of the school tax. The State pays for the first 370 of Assessed Value at the given tax rate. The taxpayer pays the remaining Assessed Value which on this bill equals 651. The 2011-2012 total assessed value equals 962. Once again, the State pays for the first 370 of Assessed Value. The taxpayer pays the remaining Assessed Value which on this bill equals 592. This should read “Gross” not “Net” school tax.

  11. Questions / Comments

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