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Your
school tax bill and tax rate are determined by combining three factors,
only one of which is set by the school district:
1) Local school tax levy.
2)
New York State STAR aid.
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The School Tax Relief Program provides property-tax exemptions for
homeowners (click here to see a related table).
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Last year, the state decreased STAR funding. This added 1.2 percent
to the total school tax bill.
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2011-12 update: The state has increased STAR
funding slightly for 2011-12. This will result in a small benefit
forAlbany residents rather than increasing the bill.
3)
Changes in assessments between homestead and non-homestead.
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Each summer, the New York State Office of Real Property Tax
Servicesfinalizes the percentages of local taxes to be paid by
homeowners and business owners. This is the final factor in
determining the school tax rate.
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Last year, this resulted in an increase of about 5 percent on the
school tax bill for homeowners. The district has no way to project
this factor for 2011-12; it is handled at the state level.
Once
all three factors are set, the final tax rate determines how much of the
total tax levy each property owner must pay.
No
matter how the tax levy is disbursed, the district receives only the
amount of money in the tax levy approved by voters – in this case, a
1.71 percent increase over 2010-11, or about $1.8 million in new revenue
for 2011-12.
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