2023-24 TAX WARRANT AUGUST 15, 2023
3 parts to the tax formula
PART I-TAX LEVY • $119,660,800–Budgeted Levy (Cap Compliant) • $119,571,960 – Proposed Actual Levy This Evening • Required to reduce under Tax Cap Law by the annual Re-levy amounts • $88,840 in uncollected taxes that will get added to our collection this year
PART II-ASSESSMENTS Town
22-23 Valuation
23-24 Valuation
Variance
Percent Change
District %
Penfield
$ 1,772,754,118
$ 1,788,593,474
$ 15,839,356
0.89%
35.69%
Webster
$ 3,148,802,579
$ 3,198,056,823
$ 49,254,244
1.56%
63.82%
Ontario
$ 2,398,620
$ 2,481,923
$ 83,303
3.47%
0.05%
Walworth
$ 22,234,378
$ 22,195,255
$ (39,123)
-0.18%
0.44%
District
$ 4,946,189,695
$ 5,011,327,475
$ 65,137,780
1.32%
100.00%
PART III-EQUALIZATION RATES Town Penfield
2023-24 Rate
2022-23 Rate
% Change
94%
100%
(6%)
Webster
58%
64%
(8%)
Ontario
84%
94%
(10%)
Walworth
82%
94%
(12%)
FINAL RATES - PER THOUSAND 2021-22
2022-23
2023-24
$ Variance
% Variance
Penfield
22.694474
17.370224
17.081053
($0.29)
-1.66%
Webster
26.792067
27.141003
27.683099
$0.54
2.00%
Ontario
19.569838
18.731630
19.403196
$0.67
3.59%
Walworth
19.569838
18.731630
19.876444
$1.14
6.11%
True Tax Value
19.283389
17.371077
16.057100
($1.31)
-7.56%
Comparison to Budget Projection ❏ Where were the projections off? ❏ Assessments were up 1.32% districtwide compared to projected 1.68% ❏ Equalization Rates did not change from April projections Budget Projection
Actual Rates
Variance
% Change
Penfield
$17.065683
$17.081053
-$0.02
-0.09006%
Webster
$27.658206
$27.683099
-$0.02
-0.09000%
Ontario
$19.401524
$19.403196
$0.00
-0.00862%
Walworth
$19.874732
$19.876444
$0.00
-0.00862%
True Tax Value
$16.042723
$16.057100
-$0.01
-0.08962%
Power of the Equalization RatesWhat happens when every town goes to 100%? Actual
100% Equalization
Variance
% Change
Penfield
$17.081053
$23.857543
$6.78
39.7%
Webster
$27.683099
$23.857566
-$3.83
-13.8%
Ontario
$19.403196
$24.443630
$5.04
26.0%
Walworth
$19.876444
$24.443630
$4.57
23.0%
❏ Why are they not all the same? ❏ Sales Tax is allocated to each town based on budgetary expectations and we are split between 2 counties ❏ Many variables at play with this scenario ❏ Assessed values will go up with all towns at 100%, but by how much will also impact these figures
Changes to STAR Limits -Capped at 2% Town
2023-24 Rate
2022-23 Rate
Basic
Enhanced
Basic
Enhanced
Penfield
$582
$1,391
$592
$1,391
Webster
$586
$1,391
$595
$1,391
Ontario
$609
$1,380
$609
$1,380
Walworth
$620
$1,409
$620
$1,409
ESTIMATED AVERAGE HOME IMPACT-$220,520* 2022-23
2023-24
Yearly Variance
Monthly Variance
Penfield
$ 3,830.48
$ 3,766.71
$ (63.77)
$ (5.31)
Webster
$ 5,985.13
$ 6,104.68
$ 119.54
$ 9.96
Ontario
$ 4,130.70
$ 4,278.79
$ 148.09
$ 12.34
Walworth
$ 4,130.70
$ 4,383.15
$ 252.45
$ 21.04
*Based on Real Estate Survey Data
A Couple Reminders….. ● It’s August 15th…Bills go out in about two weeks ● It is not unheard of for last minute assessment changes to be made ● Those changes cause tax rates to be recalculated ● Will notify the BOE if that happens because this rate could be different than what is on your tax bill ● BOE will approve updated rates in September ● This has happened before