Tax levies are a difficult thing to sometimes understand. Probably the easiest way to think about them is talking about how much you would pay in taxes on a house worth $100,000 depending on which district you presently live in. We can then compare that to how much you would pay for the same house in a merged district.
According to the analysis of the study, if you presently live in the Herkimer School District you pay about $2051 in school taxes on a home worth $100,000. Homeowners in the Mohawk School District pay about $2108 for that same house in school taxes. Ilion homeowners pay about $1732 in school taxes for a house valued at $100,000.
In a merged district, the proposed budget has been structured to take advantage of the $59 million in new incentive aid and help keep property taxes under control. Given that the Ilion District has the lowest tax rates, the basic levy of the new district would be such that all taxpayers would pay no more than what Ilion District residents presently do. Hence, the tax rates in the Mohawk and Herkimer districts would be reduced such that all taxpayers of the newly merged district now would pay about $1732 in school taxes for a home worth $100,000.
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