SILVER CREEK SCHOOL DISTRICT
Late adjustment raises tax bill in Sheridan
SILVER CREEK — An adjustment to the equalization rate in the Town of Sheridan will result in higher tax bills for residents in the Silver Creek School District.
The change was caught just in time for board members to hold a special session to approve the tax rate, which will increase Sheridan’s rate by 43 cents per $1,000 of assessed value.
The equalization rate for the Town of Sheridan had been reduced by the New York State Office of Real Property Services from 74 percent to 69.5 percent. The towns of Hanover and Brant are both at 100 percent valuation.
“While the district has no control over the equalization rate, we did need to correct the warrant to ensure that the taxes were distributed fairly — according to the required formula,” School Superintendent David O’Rourke said.
The total amount of school taxes collected in the district for 2008-09 remains the same as it was on the warrant initially issued Aug 20 — $5,109,590 — a reduction of $154,019 from the 2007-08 school year.
As a result of the change in equalization rate, distribution of the tax levy in the towns of Hanover, Sheridan and Brant was adjusted. The levy for the Town of Hanover decreased by $48,980.53 and its tax rate was adjusted to $16.78 per $1,000 of assessed value, an overall cut of 77 cents from 2007-08.
The Town of Brant’s levy also decreased by an additional $40.87, and the tax rate there is now at $16.78.
The Town of Sheridan’s levy, however, increased by $49,021.41 from the Aug. 20 warrant, resulting in an overall rate increase to $24.15 per $1,000. This amounts to a 43- cent increase from 2007-08.
