Huntington School Board members voted unanimously to set the tax levy for 2020/21 during their public meeting this past Monday night at the Adam Spector Auditorium at Jack Abrams STEM Magnet School.
The town assessor’s office recently notified the district that its final assessed valuation for the 2020/21 tax year totals $44,856,565 or $84,805 below the last spring’s estimate.
Trustees approved a resolution that sets the tax levy at $112,350,000 or $250.47 per $100 of assessed valuation. The tax rate will increase by 1.96 percent.
The Huntington School District’s assessed valuation peaked at $49,797,684 or more than $4.9 million higher than it is today, a quarter of a century later.
The Huntington School District’s 2020/21 budget amounts to $135,938,167 or 1.84 percent above last year. The district expects to receive $16,027,093 in state aid and $1,597,665 in miscellaneous revenues. Trustees voted to appropriate $2 million from the district’s fund balance to hold down taxes. Dedicated reserve fund allocations are budgeted at $3,963,409. The balance of revenues will be collected in property taxes.