Trustees Adopt 2013-14 Tax Levy

Huntington School Board members voted unanimously to adopt a 2013/14 tax levy of $98,809,854, which is projected to yield a tax rate of $219.85 per $100 assessed valuation.

The 3.22 percent increase over last year’s tax rate is lower than the 3.52 percent estimated tax increase projected last May when residents went to the polls to vote on the proposed school budget.

“Once again, a responsibly conservative assessed valuation projection during the budget development process will lead to a marginally lower than expected tax rate,” Superintendent James W. Polansky said. “This will surely be well received by district residents.”

Trustees had budgeted for a drop of $300,000 in the assessed valuation of taxable property within the district, which translated to a loss of more than $660,000 in taxes. However, Town Assessor Roger Ramme has informed school officials that the finalized assessment roll for the district is $129,905 higher than the figure utilized last spring at the time of the Huntington School District’s budget vote.

The 2013/14 assessment will total $44,943,315. Last year’s assessment was $44,113,410.  Assessed values have been dropping in the district since they totaled $49,797,684 during the 1990/91 tax year. A declining tax base puts upward pressure on the property tax rate.

The 2013/14 budget totals $114,707,235, an increase of 2.55 percent over last year’s amount. The budget relies on projected revenues of $98,809,854 in property taxes, $11,972,315 in state aid, $1,744,113 in miscellaneous revenues and an appropriation of $2,180,954 from the district’s fund balance.

The higher than expected assessed valuation allowed Huntington trustees to set the tax rate 64 cents per $100 of assessed valuation lower than last spring’s projection. While the amount is a somewhat small one, Huntington School Board members said they are pleased to be able to pass the savings on to district residents.