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:
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.
| Attachment | Size |
|---|---|
 Tax Pie Graph | 24.75 KB |