Question: Using the 2010-11Town of Broadalbin property assessment roll and equalization rate as a basis, what would the tax rate be for the proposed 2011-12 BPCSD budget?
Answer: I have some projected numbers for the Town of Broadalbin. According to projected data I have at this point, the Town of Broadalbin is looking at a tax increase right around 4%.
Generally, if the School District shows true value property growth for any given school year, the District's tax rate increase percentage will be less than the tax levy increase percentage.
For towns, equalization rates are the big dial-mover. If a Town's equalization rate goes up, it means that their assessments are closer to true value than they were the year before. Because of that, residents will see a tax increase less than the District tax rate. If a town's equalization rate goes down, it means that assessments are further from true value, which increase the actual value of homes, hence increasing the taxes. In this case, tax bills in the town will show increases above the District's true value tax rate.
-answered by Marco Zumbolo, School Business Administrator
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