Sayville School District On Target with 0.61% Tax-Rate Increase
In May 2021, Sayville voters passed the Proposed 2021-2022 Budget which projected a Tax-Rate increase of 0.61 percent. At the September 9th, BOE meeting, the Sayville Board of Education voted to approve the projected Homestead Tax-Rate increase of 0.61 percent by using additional funds from reserves. (See presentation below.)
When Sayville School District projects a tax rate at budget time, it does not yet know the Town of Islip’s Assessed Valuation(AV) and Base Allocations (BA) of properties. That’s why it’s called a Proposed Budget. Sayville School District has to wait until August and September to receive these values. The AV and BA change annually based upon such things as the number of homes sold, new homes built, developed properties throughout the year, and Tax CERTs (adjustments to home owners’ tax rates).
Sayville District received the final Assessed Valuation in August and the Base Allocations in September from the Town of Islip. This is the sixth consecutive year that we have seen a modest increase in our total Assessed Valuation. Homestead A/V increased by $478,147and NonHomestead A/V decreased by $392,760:
This is good news for the Sayville community.