March 12, 2013 | 58 views
Franklin Square schools to finalize tax levy increase
The Franklin Square School District will finalize its proposed tax levy increase at its pre-budget hearing on April 10. The boost in the tax levy, which will help the district raise the funds necessary for it to meet its needs, will be within the maximum allowable tax cap limit of 3.37 percent.
Schools Superintendent Patrick Manley said that the Board of Education and the Budget Advisory Committee are waiting to hear how much financial help the district will get from Albany before they finalize the budget and assess the impact of the tax increase on the average household.
“The State Legislature is scheduled to finalize state aid projections by March 28,” said Manley. “We are hopeful the category labeled High Tax Aid” — aid to districts whose residents are among the state’s highest taxed — “will be restored to its historic levels. Historically, we received $553,249 in aid. The governor’s proposal cut our aid to $348,523. Until we agree on our target levy increase, we are reluctant to speculate on the impact.”
At a budget meeting and workshop on March 6, Theresa Hennessey, the district’s assistant superintendent of finance and management, said that there are numerous factors that must be considered when proposing the levy increase. “Unknown factors include enrollment and state aid,” Hennessey said. “Individuals’ school property tax varies, based on the assessed value of the home. The assessed value is determined by Nassau County, not the school district.”
The tax levy is the amount of money to be spent in the budget year, minus state aid, local revenue and the use of reserves.
The next school board meeting is scheduled for March 20. The Franklin Square district is also finalizing its enrollment and staffing projections, which are expected by March 29.