NORFOLK - Now that the Norwood-Norfolk Central School Board of Education has approved the 2012-13 tax rate, the amount to be levied for taxes is dropping below the 2011-12 rate.
Last years $19.2 million budget called for a 5.82 percent tax levy hike and the amount to be raised by taxes was $5,924,442. This years amount is $5,940,091, according to Business Manager Lisa M. Mitras.
The district had presented voters in May with a $19.5 million spending plan that called for a 0.26 percent tax levy increase. The tax rate set by board members last week shows a tax rate decrease of 0.45 percent for residents in towns with a 100 percent equalization rate, Ms. Mitras said.
Madrid is the only one of five towns in the district with a 100 percent equalization rate. Louisville has a 95 percent equalization rate, Norfolk has an 82 percent equalization rate, Potsdam has a 96 percent equalization rate and Stockholm has a 92 percent equalization rate.
Residents in all of the towns except Stockholm will see a decline in their taxes from 2011-12, according to the business manager.
In Louisville, for instance, their 2011-12 tax rate per $1,000 of assessed value was $27.18. This years rate is $26.20.
In Madrid, last years tax rate was $25 per $1,000. That drops to $24.89 this year.
In Norfolk, residents will see their tax rate per decline from $39.49 per $1,000 in 2011-12 to $30.35 this year.
And in Potsdam, the tax rate was $26.04 per $1,000 in 2011-12, and that drops to $25.93 this year.
In Stockholm, however, the tax rate will increase slightly, from $26.32 per $1,000 last year to $27.05 in 2012-13. The equalization rate dropped from 95 percent in 2011-12 to 92 percent this year, while the equalization rate for the other towns either increased or remained the same from 2011-12.
Overall, the districts $19.5 spending plan is supported by $12.49 million in state aid.