Tax Levy Presentation 201011

Half Hollow Hills Central School District

2010- 2011 Tax Levy

Estimated Tax Levy May 2010

Proposed 2010-11 Budget

$207,881,882

Less: Estimated Revenue

(33,623,605)

Less: Appropriated Fund Balance

(4,150,000)

Gross Tax Levy: 2010-2011

$170,108,277

Less Gross Tax Levy: 2009-2010

$164,683,336

Total Gross Tax Levy $ Increase

$ 5,424,941

2010-2011 Gross Tax Levy % Increase

3.29%

Approved Tax Levy October 2010 Approved 2010-11 Budget

$207,881,882

Less: Estimated Revenue Less: Appropriated Fund Balance* *Board of Ed. appropriated $350,000 to lower tax levy.

Gross Tax Levy: 2010-2011

$169,758,277

Less Gross Tax Levy: 2009-2010

$164,683,336

Total Gross Tax Levy $ Increase

$ 5,074,941

2010-2011 Gross Tax Levy % Increase

(33,623,605) (4,500,000)

3.08%

Tax Levy vs. Tax Rate Gross Tax Levy: Total dollar amount

HHH must collect in taxes to support the approved 2010-2011 expenditure budget of $207,881,882 (Set by HHH).

Tax Rate: Amount charged per $100 of

assessed value to determine individual tax owed (Set by Towns of Huntington and Babylon).

What affects the tax rate?

Gross Tax Levy (School District)

Assessed Valuations (Towns of Huntington and Babylon)

Equalization Rates (New York State Office of Real Property Taxes)

Assessed Value

Determination made by the Town Assessor of the value of the property to be used for property taxation.

Assessments are at a small fraction of full market value.

The average assessment for HHH residents in the Town of Huntington is $5,500.

The average assessment for HHH residents in the Town of Babylon is $4,184.

Assessed Valuation History for HHH Set by Town of Huntington

$100,000 $95,000 $90,000 $85,000 $80,000

Year

2010-11

2007-08

2004-05

2001-02

1998-99

$75,000 1995-96

Assessed Valuation (in 000's)

Town of Huntington - HHH Portion ASSESSED VALUES

Assessed Valuation History for HHH Set by Town of Babylon Tow n of Babylon - HHH Portion ASSESSED VALUES

$21,000 $19,000 $17,000

Ye a r

2010-11

2007-08

2004-05

2001-02

1998-99

$15,000 1995-96

A ssessed Valu atio n (in 000's)

$23,000

Equalization Rates:

Set by NYS Office of Real Property Taxes (ORPS) New York State’s measure of a municipality’s Level Of Assessment (LOA) Ratio of total assessed value to market value The municipalities (Towns of Huntington and Babylon) determine assessed values The State estimates the market values

Equalization Rates: Equalization rate of: 100 means municipality is assessing property at 100% of market value Less than 100 means market value is greater than assessed value More than 100 means assessed value is greater than market value

How do Equalization Rates relate to school property taxes: Fairly distribute property tax levy.

Levy needs to be divided in proportion

to the total market value of each municipal segment to allow for equitable distribution (for HHH that would be Towns of Huntington and Babylon)

How do Equalization Rates relate to school property taxes: Estimates the total market value of an entire

taxing jurisdiction.

Formula:

Total Market Value Estimate = Current Total Assessed Value

Current Equalization Rate

EXAMPLE: School District AB needs to raise $1M. District contains all of Town A and

Town B Each Town has total assessed value of $10M If levy were simply allocated on basis of assessed value, the taxpayers in both towns would evenly split the levy

EXAMPLE cont’d: State determines, through equalization

process, that Towns A & B have different levels of assessment Town A has equalization rate of 33.33 Town B has equalization rate of 50.00 What does this mean?.......................

EXAMPLE cont’d: Town A

Town B

$10 million

$10 million

Equalization Rate (ER) of each Town

33.33%

50.00%

Market Value of each Town (AV/ER)

$30 million

$20 million

Assessed Value (AV) of each Town

Market Value of School District AB = $50 million Percent of Market Value (and, therefore, percent of levy) for each Town Tax Levy to be raised from each Town Tax Rate for each Town (Tax Levy / Assessed Value) x 100

60%

40%

$600,000

$400,000

$6 per $100 AV $4 per $100 AV

Equalization Rates for Towns of Huntington and Babylon:

NYS ORPTS Municipal Profile Swis Code

Type

470000 472000 472200 472400 472600

County Town Town Town Town

Municipality Name Suffolk Babylon Brookhaven East Hampton Huntington

2010 Equalization Rates

Suffolk County: State Equalization Rate 21.79 1.19 0.86 0.77 0.88

Status

Date Established

Complaint Filed

Level of Assessment*

Final Final Tentative Final Tentative

11/10/2009 08/24/10 06/17/10 09/08/10 06/17/10

N N N N N

1.19 0.86 0.77 0.88

*As reported by the Assessor. Section 305-2 of the Real Property Tax Law requires that all real property be assessed at a uniform percentage of market value. (In Nassau County and New York City the uniform percentage is not municipal-wide, but applies to property classes). Most villages are not required to report a uniform percentage.

Actual Valuation History for HHH Set by Town of Huntington Town of Huntington - HHH Portion ACTUAL VALUATION $12,000,000

$9,000,000 $7,500,000 $6,000,000 $4,500,000 $3,000,000 $1,500,000

Year

2010-11

2007-08

2004-05

2001-02

1998-99

$0 1995-96

Actual Valuation (in 000's)

$10,500,000

Actual Valuation History for HHH Set by Town of Babylon

Year

2 0 1 0 -1 1

2 0 0 7 -0 8

2 0 0 4 -0 5

2 0 0 1 -0 2

1 9 9 8 -9 9

$2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0 1 9 9 5 -9 6

A ctu al V alu atio n (in 000's)

Town of Babylon - HHH Portion ACTUAL VALUATION

TRANSLATION: Tax Computation

2010-2011 PROPOSED

Township

Equalization Rate

Assessed Valuation

Huntington Babylon

$ $

86,848,608 18,120,799

TOTALS

$

104,969,407

0.00880 0.01190

Full Value $ $

9,869,160,000 1,522,756,218

$

11,391,916,218

TAX RATE COMPARISON SUMMARY 2010/11 2009/10 CHANGE HUNTINGTON $ 169.34 $ 160.90 $ 8.44 BABYLON $ 125.22 $ 125.65 $ (0.43) TAX LEVY COMPARISON SUMMARY 2010/11 HUNTINGTON BABYLON TOTAL: % CHANGE

$ $ $

147,066,706 $ 22,691,571 $ 169,758,277 $

2009/10 CHANGE 141,528,541 23,154,794 164,683,335

$ $ $

5,538,165 (463,223) 5,074,942 3.08%

$ 169,758,277 (TAX LEVY)

Percentage

TAX

Tax Rate/C

86.63301% $ 147,066,706 $ 13.366989% $ 22,691,571 $ $

% 5.24 -0.34

% 3.91% -2.00%

169,758,277

169.337 125.224

4 Year Comparison Tax Rate vs. Tax Levy TAX RATE COMPARISON SUMMARY 2007/08 2007/08

2006/07

% CHANGE

TAX RATE COMPARISON 2008/09 2008/09

2007/08

% CHANGE

HUNTINGTON

$149.99

$145.16

3.33%

HUNTINGTON

156.76

149.99

4.51%

BABYLON

$122.87

$112.74

8.98%

BABYLON

121.57

122.87

-1.06%

TAX LEVY COMPARISON SUMMARY 2007/08

TOTAL

$ 157,530,742

2006/07 $ 151,985,649

% CHANGE 3.65%

TAX RATE COMPARISON SUMMARY 2009/10 2009/10

TAX LEVY COMPARISON SUMMARY 2008/09

TOTAL

$ 161,996,879

2007/08

$ 157,530,742

% CHANGE 2.84%

TAX RATE COMPARISON 2010/11 2008/09

% CHANGE

2010/11

2009/10

% CHANGE

HUNTINGTON

$160.90

$156.76

2.64%

HUNTINGTON

169.34

160.90

5.24%

BABYLON

$125.66

$121.57

3.36%

BABYLON

125.22

125.66

-0.34%

TAX LEVY COMPARISON SUMMARY 2009/10 TOTAL

$ 164,683,336

TAX LEVY COMPARISON SUMMARY 2008/09 $ 161,996,879

% CHANGE 1.66%

2010/11 TOTAL

$ 169,758,277

2009/10 $ 164,683,336

% CHANGE 3.08%

Tax Rate Comparison 2009/10 Town of Huntington 2009-2010 Tax Rat es

156.88 A

200.51 193.77 201.19 201.15 215.69 160.90 174.92 HHH

B

C

D

E

G

F

T own of Babylon 2009-2010 T ax Rates 182.95 159.92 172.24 163.76 162.93 174.06 166.74 125.65 HHH

F

A

G

D

C

E

B

2010/11 Tax Levy Board

of Education approves tax levy lower than levy proposed in May 2010 Lowest school tax rate in the Town of Babylon 2nd lowest school tax rate in the Town of Huntington

THANK YOU!