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Word of the Month for July - Cooperation

 

 

August 4, 2014

Board of Education Meeting
Golding Middle School Library at 7:00 p.m.

 

 

Oct. 4, 2011

The three tax levy numbers

What are they and what do they represent?

budget logo (c) dreamstimeDuring the school budget development process, taxpayers will hear three sets of numbers: the tax levy limit, the maximum allowable levy, and the proposed tax levy.

The tax levy limit is the number calculated by a state-dictated formula that takes into account inflation (2 percent or the current Consumer Price Index, whichever is less), any PILOT payments (payments in lieu of taxes) a district receives, and prior year exemptions.

The maximum allowable levy is the tax levy limit plus the state-approved exemptions for the coming school year under the law, such as capital local expenditures, certain pension payments, and certain court orders/judgments.

The proposed tax levy is the amount of money the school needs to raise in taxes to fund its proposed budget. Schools get funding from two major sources: state aid and property taxes. On the third Tuesday of May each year, residents vote on the proposed school district budget in their communities — meaning, voters decide on the overall district spending plan, not on the specific tax levy figure.

For more information, download the PDF of The three tax levy numbers under New York state’s tax levy “cap” by Capital Region BOCES and Questar III.

As always, parents, staff, students and taxpayers are urged to voice their opinions on these matters to our elected leaders. Click here for elected leaders' contact information.

Return to the Tax Levy Limit Information page