2024-25 school tax rates established
Aug. 16, 2024The Cazenovia Central School District Board of Education approved 2024-25 tax rates for school district residents at its Aug. 12 meeting. For the most part, the rates are lower than the projected worst-case scenarios presented during budget season.
The primary factors that determine final tax rates are the school tax levy, towns’ assessed values and equalization rates. Tax rates are then used to calculate the amount each property owner ultimately pays in school taxes.
Tax rates may vary from town to town because every year the New York State Office of Real Property Tax Services assigns an equalization rate for each municipality that creates an assessment value equal to its full market value. This process is intended to ensure that each town pays its fair share of school taxes based on the town’s full market value.
The school district does not control property assessments or equalization rates, however the district and its residents do control the property tax levy. In June, voters approved a revised $38.4 million budget, which included a reduction of $400,000 and a tax levy limit of 4.02%., which adheres to the state-mandated tax cap formula.
School tax bills are issued in September. Questions about assessments and equalization rates should be directed to the appropriate town assessor’s office.
Final School Tax Rates:
Madison County
- Village/Town of Cazenovia: a tax rate of $20.43 per $1,000 of assessed value;
- Town of Fenner: a tax rate of $22.67 per $1,000 of assessed value;
- Town of Georgetown: a tax rate of $18.13 per $1,000 assessed value;
- Town of Lincoln: a tax rate of $22.67 per $1,000 of assessed value;
- Town of Nelson: a tax rate of $22.67 per $1,000 of assessed value; and
- Town of Sullivan: a tax rate of $20.87 per $1,000 of assessed value.
Onondaga County
- Town of Pompey: a tax rate of $23.02 per $1,000 of assessed value.
