After a tough year of budgeting resulted in the loss of a well-liked physical education teacher and football coach, among other positions, the South Colonie Central School District’s growth and assessment rate increase came in lower than projected in the spring.
On Wednesday, Aug. 27, the School Board adopted the final tax levy increase of 2.37 percent for the Town of Colonie, which is below the original 2.64 percent that was approved in May.
The Board of Education adopted new district property tax rates for the 2014-15 school year at its meeting Tuesday night, Sept. 2. The new rates are $27.00 per $1,000 assessed value for South Colonie home and business owners, $20.55 per $1,000 for Guilderland and $17.13 per $1,000 for Niskayuna.
There is more good news for homeowners in the district in the form of a rebate.
“Because we are below tax levy limit, homeowners will receive a rebate from the state,” said Sherri Fisher, assistant superintendent for management and strategic planning.
The district has to set the tax levy increase in May, but the final assessment doesn’t come in until early August. The board sets the rates conservatively to avoid surprises in growth and assessment.
“Because of growth and assessment, the tax rate increase came in a little lower. Normally there is some level of assessment growth, which helps to lower tax rate increase marginally,” said Fisher.
The district has not restored any of the positions that it was forced to cut due to budget constraints, but it will be examining options when it starts working on the 2015-16 budget.