SETTING THE TAX RATE LOWER
Setting the Tax Rate LOWER
for the 2011-2012 School Year
At the September 2011 Board meeting, the
School Board approved the tax levy for the current school year. At budget time, the District projected a
7.39% tax increase. The finalized
homestead tax rate increase was REDUCED to 6.65%.
As the community is aware, there are many variables which go into setting the tax rate; one variable being the assessed valuation. It is interesting to note that this is the fourth consecutive year that we have seen a total decrease in our assessed valuation. The assessed valuation is reflective of all taxable properties throughout the Sayville community. Unfortunately, as this number decreases, every resident picks up a little bigger piece of the pie.
Another variable that plays into setting of the tax rate is the Base Allocations between homestead and non-homestead properties. Again this year we have seen a 1% shift from homestead (residential) to non-homestead (commercial) property values.
Once again, you can see that the Board of Education and Administration have been very diligent in reducing the homestead tax rate that was projected at budget time. We would like to again thank the community for their continued support in ensuring that we preserve and grow our educational opportunities for our students here at Sayville Schools.