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Monday, December 22, 2014
Tax levy up, as well as phone calls
(Page 2 of 2)

How much an individual homeowner pays depends on the town’s assessment of the property, Frontario points out. A house with an evaluation of $200,000 would pay taxes of a little more than $16,000, while a home worth $300,000 would pay $24,000.

School bills are calculated by multiplying an individual property assessment by the district’s tax rate. If the assesses valuation drops, tax rates increase to bring in the same amount of money, town officials say. That means if one homeowner’s assessment goes down, another homeowners taxes go up if their assessment has stayed the same.

Over the past two years, Nassau homeowners have seen their school district taxes rise by an average of 10 percent, records show, despite the fact that a state tax cap limits tax levy increases to around three percent.

In Island Park, the 2013-14 school tax increase is 7.1 percent.

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