Budget and Finance
Latest Budget and Finance News
10 Fast Facts about New York’s Property Tax Levy Cap
By now, you may have heard about New York’s new tax levy cap legislation enacted in June. The media usually refers to it as a “2 percent tax cap” but this is a misnomer. Whatever you call it, though, the new law will still affect Canajoharie and districts around the state as they develop their budgets for 2012-13. Like many laws, the details can be complicated and sometimes difficult to understand. (full story)
Canajoharie CSD tax levy for 2011-12 lower than projected
District officials announced on Thursday, Aug. 11, that the tax levy increase in the voter-approved 2011-12 school budget will be half of what was projected. The adopted $18,823,340 budget called for a tax levy increase of 4 percent, but the tax levy (the total amount the district raises in taxes) will only increase 2 percent for the upcoming year. (Full story)
District sets 2011-12 tax rates
At its Aug. 11 meeting, the Board of Education adopted the 2011-12 tax rates for the eight municipalities in the district. Individual tax bills will vary depending on changes in assessments and equalization rates within the district’s municipalities. (full story)
2011-12 Approved Budget Information
Canajoharie Central School District residents approved an $18,823,340 budget for the 2011-12 school year on May 17. The plan spends $70,800 less than in 2010-11. Canajoharie is in better financial shape than many districts and is positioned to get through the next few years Superintendent Richard Rose said. Despite that positive news, a loss of state aid required cuts to staff and programs. Like many rural districts, Canajoharie is heavily dependent on the state for revenue, and for the 2011-12 fiscal year, the district will receive $661,201 less in state aid than the current year. Over two years, the district’s state aid fell $1,090,535.
