Tentative Taxable Assessed Valuation Shows Decline
The property tax base in the Huntington School District continues to shrink. According to Huntington Town Assessor Bryan J. Monaghan, the tentative assessed valuation of taxable property within the district has fallen by more than $146,000 since last year.
As of this month, the tentative assessed valuation in the district is $45,981,383, which is a decrease of $146,851 from 2009. Mr. Monaghan put the district on notice that the final figure, which will be issued in September, will be even lower. A declining tax base puts upward pressure on the tax rate.
The expected valuation decrease from the tentative tax roll is due to the following:
• New and renewal exemption applications that were timely filed and are still being processed.
• Prior year finalized litigation and court-ordered reductions for both commercial and residential properties.
• Corrections and decisions approved by the Town Board of Assessment Review.
After receiving final assessed valuation figures from the town, Huntington School Board members will set the 2010/11 tax levy early next fall.
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