The Huntington School Board has set the tax rate for 2019/20 after receiving final assessed valuation figures from the town assessor.
Huntington Superintendent James W. Polansky. (Darin Reed photo.)
Trustees took the action during their public meeting in the Adam Spector Auditorium at Jack Abrams STEM Magnet School this past Monday night. The town assessor’s office recently notified the district that its final assessed valuation for the 2019/20 tax year totals $44,941,370 or $27,971 above what was budgeted last spring. Higher assessed values put downward pressure on tax rates.
Trustees approved a resolution that sets the tax levy at $110,400,611 or $245.65 per $100 of assessed valuation. The tax rate translates to a 2.63 percent increase over the 2018/19 rate of $239.36.
The Huntington School District’s assessed valuation peaked at $49,797,684 or more than $4.856 million higher than it is today, a quarter of a century later.
The Huntington School District’s 2019/20 budget amounts to $133,488,443. The district expects to receive $17,827,613 in state aid and $1,693,219 in miscellaneous revenues. Trustees voted to appropriate $1.4 million from the district’s fund balance to hold down taxes. Budgeted allocations from reserve funds total $2.167 million. The balance of revenues will be collected in property taxes.