2014-15 Tax rates for district towns are expected to be released by the county in August. Information will be posted as soon as it is available. View the 2014-15 C-RCS tax rates tax rates for the district. Here is an info graphic for assistance Understanding Your Tax Bill. How do you know you are paying your “fair share” of the levy? Check out Understanding Equalization Rates.
The New York State School Tax Relief Program (STAR) provides New York homeowners with partial exemptions from school property taxes. Basic STAR is available for owner-occupied, primary residences where the owners’ total income is less than $500,000. Basic STAR works by exempting the first $30,000 of the full value of a home from school taxes. The Enhanced STAR exemption is available to homeowners who will be 65 years of age by Dec. 31 and who have an adjusted gross income of $79,050 or less on their previous tax return. Enhanced STAR participants MUST REAPPLY to their town assessor every year to prove that they still meet income requirements.
Visit The New York State Department of Taxation and Finance for more information on the STAR program and Eligibility or download a copy of Understanding New York’s STAR program. For an application, visit the New York State Office of Real Property or contact your local assessor.
Tax Levy Limit legislation information
At the end of June 2011, the New York State Legislature enacted a property tax “cap” that seeks to limit the annual increase in the tax levies of local governments and school districts. The legislation affected district planning starting with the 2012-13 school budget.
A summary of the property tax “cap” law:
• Although the law has been commonly referred to as a “2 percent tax cap,” it does not, in fact, restrict any proposed tax levy increase to 2 percent. What it does is establish a tax levy limit (which will be determined by each district according to an eight-step, complex formula dictated by the law, and will vary by district) that determines the number of votes needed to pass a school budget.
• While the law has been advertised as a “2 percent cap” on annual property tax levy increases, The actual tax levy increase limit may vary from that figure. This is in part due to a series of costs that are exempt from the limit.
• Each district will calculate its own “tax levy limit” based on a state formula, which will be the figure that determines what level of voter support is needed for a school budget to pass. If the tax levy increase is above that limit, the support of a supermajority (60 percent) of voters would be required for budget passage. If it is within the limit, a simple majority (more than 50 percent) is needed for budget approval.
• Voters will still decide on the district’s spending plan on the third Tuesday of every May.
• School districts can hold up to two budget votes under current law. If both budget proposals are defeated, districts would be held to the same tax levy as the previous year, irrespective of increases in health care costs, contractual expenses or student enrollment.
• If a local district’s budget is under the tax levy limit, the difference between the requested amount and the limit amount can be carried over to the next year without needing a 60 percent voter approval rate.
For more information, check out Understanding the New York State Tax Levy Limit Law.