County Taxes: Rye More Equal Than Others

Einstein had his Theory of Relativity and New York State has its Equalization Rate (ER) formula, which Westchester County uses in an attempt at tax equilibrium for its 25 municipalities.

Published February 19, 2016 5:00 AM
2 min read

0:00

Einstein had his Theory of Relativity and New York State has its Equalization Rate (ER) formula, which Westchester County uses in an attempt at tax equilibrium for its 25 municipalities.

By Tom McDermott

Einstein had his Theory of Relativity and New York State has its Equalization Rate (ER) formula, which Westchester County uses in an attempt at tax equilibrium for its 25 municipalities. Fortunately, Rye’s Assessor Noreen Whitty was on hand at the February 10 City Council meeting to explain these complicated matters in layman’s terms.

chartsWhitty made two things crystal clear. First, Rye’s ER has steadily decreased to 1.71 from 2.91 in 2012. Second, a lower ER increases Rye’s share of County taxes. When an assessed value of a property, and a town’s total value of properties  are divided by a lower rate, the result is higher taxes.

Despite an unchanged County tax levy, preliminary numbers indicate that Rye’s County tax will increase 6% in 2016. In total, Rye taxpayers will send $27.5 million to the County. That is about $5 million more than the City itself will collect from its taxpayers for what Whitty termed “very little in services.”

“The primary culprit is the ER,” according to Whitty. It all begins with the varied ways that municipalities assess value, from .5 all the way up to 100 percent. The ER is the state’s way of “shuffling the deck” to equalize rates of the full value of all County property. Whitty explained that the aim “is to have the tax on a $200,000 house be the same across the County.”

Sounds like a plan, but while the County tax levy has been stable for five years, in four of those years – last year saw a slight reduction – Rye’s share of taxes has increased. The City’s share of the total County tax levy has risen from 4.07 percent in 2012 to 5.01, an increase Whitty describes as significant.

Whitty explained that a Rye home with an assessed value of $22,600 will have a 5.99% or $250 increase for 2016, resulting in a County general levy tax of $4,428. Since 2012 that tax has risen nearly 21% or $764.

The good news, as Whitty and Mayor Joe Sack acknowledged, “is that the value of Rye property is rising.” That’s bad news as well, since Rye’s percent change of County Full Value in 2015 was a whopping 12.82. The average percent change per town was 4.54.
The presentation concluded with a brief discussion regarding the possible pros and cons of Rye performing a revaluation.

But, as Councilmember Julie Killian pointed out, discussions with Scarsdale’s Assesor showed that could be expensive, a “can of worms,” with no guarantee of a positive outcome. Still, Mayor Sack would lik­­­­revaluation guidance from the Finance Committee.

 

Filed Under:
Subscribe and get freshly baked articles. Join the community!
Begin typing your search above and press return to search. Press Esc to cancel.

rajbet app

rajbet india

lottoland asia

lottoland india

dafabet login

dafabet app

4rabet login

khelo24bet login

rummy gold

rummy glee

teen patti

teen patti gold

teen patti joy

teen patti master

rummy modern

andar bahar

dafabet

bonus new member

gullybet

IPLWin

IPLWin

tk88

tk88

thienhabet

thienhabet

Dbbet

Nagad88

Babu88

Six6s

Bhaggo

Elonbet

yono rummy

rummy glee

rummy perfect

rummy nabob

rummy modern

rummy wealth

jeetbuzz

iplwin

yono rummy

rummy deity

rummy app

betvisa

lotus365

hi88

8day

97win

n88

red88

king88

j88

i9bet

good88

nohu78

99ok

bet168

betvisa

satta king

satta matta matka