POTSDAM — Voters who approved a 2.91 percent tax rate increase this spring were rewarded Tuesday night with a tax rate increase that came in well under that number.
The Potsdam Central School District Board of Education approved a full value tax rate of $23.02 per $1,000 of assessed property value. This rate is a 1.23 percent increase, or 28 cents, over the $22.74 per $1,000 taxpayers paid last year.
Business Manager Laura Hart called the adopted increase “good news,” noting it was “quite a bit under” the rate approved by voters in May.
The reason for the increase being less than originally expected was a districtwide increase in assessments of nearly $12 million. The increase came as a result of revaluation in Potsdam, where the district’s portion of the town rose in value by $6,775,572, and Stockholm, where the district’s portion of the town rose in value by $6,071,737.
The very small portions of Canton and Parishville in the district rose in value by $55 in Canton and dropped $2,499 in Parishville. Pierrepont also saw a districtwide decrease in assessment of $895,164.
According to a tax rate analysis, taxpayers in Potsdam and Canton, where the equalization rates are 100 percent, will each pay the full value rate.
Taxpayers in Pierrepont will see a 1.84 percent tax rate increase and pay $25.57 per $1,000 of assessed property value. This is a 44 cent per $1,000 increase over what taxpayers in Pierrepont paid last year.
In Parishville, the rate will increase from $367.39 to $371.81 per $1,000 of assessed property value, an increase of 1.2 percent or $4.42. The reason for discrepancy in Parishville’s tax rate is the town’s equalization rate of 6.19 percent.
Taxpayers in Stockholm will actually see a tax rate decrease of $1.70 per $1,000.
“Stockholm had a reval,” Superintendent Patrick H. Brady said. “Now they’re at 100 percent.”
Mr. Brady said last year the town had an equalization rate of 92 percent.
With the decrease, taxpayers in Stockholm now will also pay the full value rate of $23.02 per $1,000.
Taxes collected this year will support the district’s $12,188,521 tax levy.