Senior Tax Exemption.pdf

WEBSTER CENTRAL SCHOOL DISTRICT Brian Neenan Superintendent Brian_Neenan@webstercsd.org (585) 216-0001 Erin Land Assistant Superintendent for Instruction Erin_Land@webstercsd.org (585) 216-0130

David Swinson Assistant Superintendent for Administration and Human Resources David_Swinson@webstercsd.org (585) 216-0011 Brian Freeman Assistant Superintendent for Business Brian_Freeman@webstercsd.org (585) 216-0017

Current Maximum and Minimum Income Thresholds

New Maximum and Minimum Income Thresholds

Exemption Level

$29,000

$0

$50,000

$0

50%

$29,000

$30,000

$50,000

$51,000

45%

$30,000

$31,000

$51,000

$52,000

40%

$31,000

$32,000

$52,000

$53,000

35%

$32,000

$32,900

$53,000

$53,900

30%

$32,900

$33,800

$53,900

$54,800

25%

$33,800

$34,700

$54,800

$55,700

20%

$34,700

$35,600

$55,700

$56,600

15%

$35,600

$36,500

$56,600

$57,500

10%

$36,500

$37,400

$57,500

$58,400

5%

Based on the July 1, 2022 Tax Rolls for this fiscal year, Webster CSD has 123 properties in the Town of Penfield that represent $11,484,620 (0.65% of total town assessed value) in exemptions and 397 properties in the Town of Webster that represents $20,935,530 (0.43% of total town assessed value) in exemptions. The towns of Ontario and Walworth exemptions are negligible in this area. As a reminder, exemptions are reductions in the taxable value of a property to support an economic or social based policy set forth by state law. Exemptions have no impact on the school district’s revenue either from tax collection or state aid. The STAR program is the one exception where the state reimburses the district for the exemption. In short, when an exemption is added one property pays less, and that gets divided among the non exempt properties. It is difficult to project the impact as this exemption is based on year to year income filings. There is some fluidity to it as a resident may qualify for it one year, but not the next. Using the average increase in the exemption levels of 65% you could forecast an additional exemption amount of $7,465,003 for Penfield and $13,608,095 for Webster. When calculating those decreases in assessed value, it would be an estimated increase of $17 a year on an average home ($220,520) in Penfield and $26 on the same average home in Webster. The next step would be to hold a public hearing, and then pass a resolution adopting the exemption if desired in time for the March 1, 2023 tax rolls. If you have any additional questions please let me know.