2022-23 TAX WARRANT AUGUST 15, 2022
3 parts to the tax formula
PART I-TAX LEVY • $116,818,533 –Budgeted Levy ($600K below cap) • $116,715,635 – Proposed Actual Levy This Evening • Required to reduce under Tax Cap Law by the annual Re-levy amounts • $102,898 in uncollected taxes that will get added to our collection this year
PART II-ASSESSMENTS Town
21-22 Valuation
22-23 Valuation
Variance
Percent Change
District %
Penfield
$ 1,380,560,504
$ 1,772,754,118
$ 392,193,614
28.41%
26.80%
Webster
$ 3,145,984,074
$ 3,148,802,579
$ 2,818,505
0.09%
72.80%
Ontario
$ 2,440,447
$ 2,398,620
$ (41,827)
-1.71%
0.04%
Walworth
$ 21,283,602
$ 22,234,378
$ 950,776
4.47%
0.36%
District
$ 4,553,083,915
$ 4,946,189,695
$ 393,105,780
8.63%
100.00%
PART III-EQUALIZATION RATES Town Penfield
2022-23 Rate
2021-22 Rate
% Change
100%
85%
15%
Webster
64%
72%
(8%)
Ontario
94%
100%
(6%)
Walworth
94%
100%
(6%)
Per Thousand 2020-21
2021-22
2022-23
Variance
% Variance
Penfield
22.284910
22.694474
17.370224
($5.32)
-23.46%
Webster
26.199807
26.792067
27.141003
$0.35
1.30%
Ontario
21.587336
19.569838
18.731630
($0.84)
-4.28%
Walworth
22.842413
19.569838
18.731630
($0.84)
-4.28%
True Tax Value
19.388755
19.283389
17.371077
($1.91)
-9.92%
Comparison to Budget Projection ❏ Where were the projections off? ❏ Assessments were up 8.63% districtwide ❏ Penfield Reassessment significantly impacted the increase ❏ Higher than normal increase for Walworth ❏ Equalization Rates were significantly off ❏ Webster & Penfield -Predicted 2% drops, Webster 8%drop, Penfield 15% increase to 100% ❏ Walworth & Ontario - Predicted continuation at 100%, both dropped 6% ❏ All data points combined for a very unique comparison year
Power of the Equalization Rates ❏ What if every town was valued at 100%? - #1 Question asked Town
Current
@ 100%
Difference
Penfield
$17.37
$23.58
$6.21
Webster
$27.14
$23.58
$3.56
Ontario
$18.73
$24.28
$5.55
Walworth
$18.73
$24.28
$5.55
❏ 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
2022-23 Rate
2021-22 Rate
Basic
Enhanced
Basic
Enhanced
Penfield
$592
$1,391
$602
$1,391
Webster
$595
$1,391
$605
$1,391
Ontario
$609
$1,380
$609
$1,380
Walworth
$620
$1,409
$630
$1,409
ESTIMATED AVERAGE HOME IMPACT-$220,520* 2021-22
2022-23
Yearly Variance
Monthly Variance
Penfield
$ 5,004.59
$ 3,830.48
$ (1,174.10)
$ (97.84)
Webster
$ 5,908.19
$ 5,985.13
$ 76.95
$ 6.41
Ontario
$ 4,315.54
$ 4,130.70
$ (184.84)
$ (15.40)
Walworth
$ 4,315.54
$ 4,130.70
$ (184.84)
$ (15.40)
*Based on Real Estate Survey Data