Tax Impact for Capital Project 2018-19 (Estimated)

The cost of the project subject to voter approval is $28,935,000 (maximum). Approximately 64% of the cost would be eligible for state building aid reimbursement. Taxpayers would be responsible for the remaining portion distributed over several years:

64.2 % state building aid and 35.8% local share

The estimated tax levy increase associated with this project is not to exceed two percent:

Tax Impact = 2.00% (maximum)

Tax Rate Impact = 0.3375 cents per $1,000 assessed value

Equal to $33.75 annually on a home assessed at $100,000

Equal to $67.50 annually on a home assessed at $200,000

Estimated Tax Impact Tables

Average Cost to Taxpayer: $28,935,000 Capital Project
Based on marginal increase for 2020-21 through 2041-42

 

Assessed Home Value

Senior/STAR

$66,800 Equalized Value Exemption

Income Restrictions*

With STAR

$30,000 Equalized Value Exemption

Primary Residence

No STAR

Non-Primary Residence

 

Annual        Monthly

Annual       Monthly

Annual       Monthly

$50,000

 $0                $0.00

$7                $0.58

$17              $1.42

$100,000

  11                0.92

24                 2.00

 34                2.83

$150,000

  28                2.33

41                 3.42

 51                4.25

$200,000

  45                3.75

57                 4.75

 68                5.67

 

Average Cost to Taxpayer: $28,935,000 Capital Project
Based on marginal increase for 2020-21 through 2041-42

Town

Assessed  Home Value

Senior/STAR

With STAR

No STAR

   

Annual        Monthly

Annual    Monthly

Annual    Monthly

Cairo

$100,000

     $12            1.00     

    $26         2.17

   $37         3.08

Durham

$100,000

    10             .83

     22         1.83

    31         2.58

Athens

$100,000

      8          .67

     18         1.50

    25          2.08

Catskill

$100,000

    14           1.17

     30         2.50

    43          3.58

Coxsackie

$100,000

    12           1.00

     25         2.08

    35          2.92

Greenville

$100,000

    11             .92

     22         1.83

    32          2.67

Conesville

$100,000

      8          .67

     18         1.50

    25          2.08

Rensselaerville

$100,000

    14            1.17

     29         2.42

    42          3.50

NOTE: To determine the estimated annual tax impact based on a home value of $150,000, multiply the amount in the appropriate “STAR” column by 1.5. For an assessed home value of $200,000, multiply the amount by 2, and so on.

Other Tax Facts

It is worth noting that Cairo-Durham CSD’s tax levy per pupil is the lowest of Greene County’s six public school districts (approx. $10,900). This project will not significantly change these stats or the District’s position within the county.


capital project vote December 11 2018

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Image icon Tax Pie Graph24.75 KB