Trustees Set Tax Levy for 2023-24

Huntington School Board members set the tax levy for 2023/24 during their public meeting on Monday in the Adam Spector Auditorium at Jack Abrams STEM Magnet School.

The town assessor’s office notified the district that its final assessed valuation for the 2023/24 tax year totals $44,872,891 or $20,894 above last spring’s estimate.

Trustees approved a resolution that sets the tax levy at $113,711,800 or $253.41 per $100 of assessed valuation. The tax rate will increase by 0.83 percent. The increase is below last spring’s estimate when residents approved the proposed budget in May. At that time, officials estimated a tax rate increase of 0.88 percent. But a rise in the final assessment roll allowed trustees to reduce the initial estimate.

The Huntington School District’s assessed valuation peaked at $49,797,684 or about $4.1 million higher than it is today, more than a quarter of a century later.

The Huntington School District’s 2023/24 budget amounts to $146,347,091 or 2.36 percent above last year. The district expects to receive $29,702,735 in state aid and $1,407,236 in miscellaneous revenues. The state aid increase amounts to $3,636,987.

Trustees voted to appropriate $600,000 from the district’s fund balance to hold down taxes. Dedicated reserve fund allocations are budgeted at $925,320. The balance of revenues will be collected in property taxes.