POTSDAM - Last year when Superintendent Patrick H. Brady was trying to sell the districts budget proposal to the public he noted that the proposed tax levy increase and the actual tax rate increase are two different things.
He noted at that time that when the district receives the property tax rolls each year, increased assessment values usually lead to a less than initially proposed tax rate increase.
This year was no different, despite exceeding the states 2 percent property tax cap and presenting its voters with a proposed tax levy increase of 2.9 percent, an increase of just over $5 million to the districts total property value has lowered the tax rate increase to approximately 1.5 percent for most taxpayers.
We went out with a 2.9, but property owners in Potsdam will see a 1.55, Mr. Brady said referring to the percentage increase in the tax rate.
The taxable assessed value rose $5,008,506, Mr. Brady said, noting the districts total value increased just over 1 percent to $469,383,595.
The lions share of that was in the town of Potsdam, he said, adding equalizations rates for each of the townships in the district remained steady except for in Stockholm, where their equalization rate decreased 3 percent to 92 percent.
Due to the decreased equalization rate, taxpayers in Stockholm will actually see a tax rate increase of 4.86 percent. That translates to a rate of $25.23 per $1,000 of assessed property value, an increase of $1.17.
While this may not look good to taxpayers in Stockholm, Mr. Brady said its out of the schools hands.
Part of the reason theyre seeing the increase has nothing to do with the school, he said, adding a townships equalization rate is determined by the state.
With an equalization rate of only 5.6 percent, taxpayers from the Parishville portion of the district will see a tax rate of $414.56 per $1,000, an increase of 1.56 percent or $6.36 per $1,000.
In Potsdam, which accounts for 78.6 percent of the districts property value, taxpayers will see a tax rate of $24.18 per $1,000, an increase of 37 cents per $1,000.
The Canton portion of the district will see a tax rate of $22.86 per $1,000 of assessed property value. Thats an increase of 1.57 percent or 36 cents per $1,000..
A portion of the district also lies in Pierrepont, where taxpayers will see a rate of $23.93 per $1,000. Thats an increase of 1.53 percent or 36 cents p;er $1,000.