Trustees Set Tax Rate for 2022/23
October 19, 2022
For the first time in memory, the year-to-year tax rate is being reduced in Huntington UFSD. Huntington School Board members set the 2022/23 tax levy during their public meeting on Monday, October 17 at 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 2022/23 tax year totals $44,851,997 or $28,758 above spring’s estimate. This allowed for a slight cut in the tax rate.
Trustees approved a resolution that sets the tax levy at $112,718,438 or $251.31 per $100 of assessed valuation. The tax rate will decrease by 0.06 percent.
“We are beyond pleased that Huntington School District taxpayers will see a school tax bill reduction for the 2022/23,” Superintendent James W. Polansky said. “At the same time, we have worked diligently to ensure that student opportunities and district facilities are appropriately funded, while taking advantage of recent infusions of Foundation Aid and federal stimulus monies. We have put forth similar effort in terms of reducing district debt considerably over the past decade. As such, while the fiscal outlook may not be as positive in general for the next several years, the district is as well positioned as any in the face of increases to mandated costs and rising interest rates.”
The Huntington School District’s 2022/23 budget amounts to $142,968,343 or 2.62 percent above last year. The district expects to receive $26,065,748 in state aid and $1,283,564 in miscellaneous revenues. The state aid increase amounts to about $3.9 million.
Trustees voted to appropriate $1 million from the district’s fund balance to hold down taxes. Dedicated reserve fund allocations are budgeted at $1,900,593. The balance of revenues will be collected in property taxes.
The Huntington School District’s assessed valuation peaked at $49,797,684 or about $4.9 million higher than it is today, a quarter of a century later.