2024-25 TAX WARRANT AUGUST 19, 2024
3 parts to the tax formula
PART 1-TAX LEVY • $123,609,680–Budgeted Levy (Cap Compliant) • $123,567,672–Proposed Actual Levy This Morning • Required to reduce under Tax Cap Law by the annual Re-levy amounts • $42,008 in uncollected taxes that will get added to our collection this year
PART 2-ASSESSMENTS Town
24-25 Valuation
23-24 Valuation
Variance
Percent
District %
Penfield
$ 1,804,024,763
$ 1,788,593,474
$ 15,431,289
0.86%
35.69%
Webster
$ 3,226,841,534
$ 3,198,056,823
$ 28,784,711
0.90%
63.83%
Ontario
$ 2,333,078
$ 2,481,923
$ (148,845)
-6.00%
0.05%
Walworth
$ 22,171,978
$ 22,195,255
$ (23,277)
-0.10%
0.44%
District
$ 5,055,371,353
$ 5,011,327,475
$ 44,043,878
0.88%
100.00%
PART 3-EQUALIZATION RATES Town
2024-25 Rate
2023-24 Rate
% Change
Penfield
87%
94%
(7%)
Webster*
52%
58%
(6%)
Ontario
76%
84%
(8%)
Walworth
74%
82%
(8%)
*Lowest in Monroe County
FINAL RATES - PER THOUSAND 2022-23
2023-24
2024-25
Variance
% Variance
Penfield
17.370224
17.081053
17.086508
$0.01
0.03%
Webster
27.141003
27.683099
28.587096
$0.90
3.27%
Ontario
18.731630
19.403196
19.831094
$0.43
2.21%
Walworth
18.731630
19.876444
20.367070
$0.49
2.47%
Comparison to Budget Projection ❏ Where were the projections off? ❏ Assessments were up 0.89% districtwide compared to projected 1.66% ❏ Equalization Rates did not change from April projections Budget Projection
Actual Rates
$ Variance
% Variance
Penfield
$16.977733
$17.086508
$0.11
0.64%
Webster
$28.405070
$28.587096
$0.18
0.64%
Ontario
$19.724366
$19.831094
$0.11
0.54%
Walworth
$20.257457
$20.367070
$0.11
0.54%
True Tax Value
$14.771459
$14.866020
$0.09
0.64%
Power of the Equalization RatesWhat happens when every town goes to 100%? Actual
100% Equalization
Variance
% Change
Penfield
17.086508
18.048174
$ 0.96
5.63%
Webster
28.587096
18.048181
$ (10.54)
-36.87%
Ontario
19.831094
18.407392
$ (1.42)
-7.18%
Walworth
20.367070
18.407392
$ (1.96)
-9.62%
❏ 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 the unknown amount will also impact these figures (utilized a rate of change based on Penfield’s recent reassessment)
Changes to STAR Limits -Capped at 2% Town
2024-25 Rate
2023-24 Rate
Basic
Enhanced
Basic
Enhanced
Penfield
$512
$1,390
$582
$1,391
Webster
$532
$1,391
$586
$1,391
Ontario
$547
$1,380
$609
$1,380
Walworth
$561
$1,409
$620
$1,409
ESTIMATED AVERAGE HOME IMPACT-$250,000* 2023-24
2024-25
Yearly Variance
Monthly Variance
Penfield
$ 4,270.26
$ 4,271.63
$ 1.36
$ 0.11
Webster
$ 6,920.77
$ 7,146.77
$ 226.00
$ 18.83
Ontario
$ 4,850.80
$ 4,957.77
$ 106.97
$ 8.91
Walworth
$ 4,969.11
$ 5,091.77
$ 122.66
$ 10.22
*Based on Real Estate Survey Data
A Couple Reminders….. ● It’s August 19th…bills go out next week ● It is not unheard of for last minute assessment changes or STAR 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