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District sets 2017-18 tax rates

The Schuylerville Central School District Board of Education adopted 2017-18 tax rates at the August 14 board meeting. The true value assessment will be $19.404 per $1,000 of assessed value. This reflects a 2.56 percent decrease over the 2016-17 tax rate of $19.91.

Four of the seven towns encompassed in the district do not have full value assessments. The towns of Stillwater, Easton and Fort Edward also reflect a decrease while Town of Wilton reflects a slight increase, though the tax rate varies based on the equalization rate. Equalization rates are set by New York State Office of Real Property Taxes.

The May 17 voter approved tax levy reflected a 0 percent increase over the 2016-17 school year. This, coupled with increased assessment values and new properties added to the District’s tax rolls, has dropped the tax rate to its lowest level since 2011-12.

A home with a $150,000 assessed value will show a $75.90 decrease over the prior year.

“The district’s financial plans for the foreseeable future include maintaining current programming levels with minimal tax impact,” said Business Manager Marian Chrisman. “New business and residential growth in the area allows for further stabilization and reduced tax levy rates.”

Tax bills will be mailed August 29, 2017. Collection dates are September 1 – September 30, no penalty; October 1-October 31, 2 percent penalty. No collection on or after November 1.

Glossary of helpful terms:
  • Tax Levy = the total amount of tax collected by the school district as establish and limited by New York State Law.
  • Tax Rate = the actual rate per thousand paid by individual taxpayers.
  • Assessed Value = the value placed on the property by the local town assessor.
  • Taxable Value = the assessed value less any exemptions (i.e. the STAR Exemption)