2020-21 Proposed Budget
The VCSD 2020-21 Proposed Budget is $108,429,011 and holds the budget to budget increase to 1.5%. This is one of the lowest budget increases in VCSD budget history which can be found here.
The Bottom Line on Tax Impact
The following reflects the estimated increase in school taxes under the proposed tax levy increase of 2.86%. This would be the average cost to taxpayers based on the proposed tax levy.
This is broken down into three categories; a Senior Citizen homeowner receiving Enhanced STAR (based on a $69,800 equalized value exemption), a homeowner receiving STAR (based on a $30,000 equalized value exemption), and a homeowner without STAR (usually the case for a non-primary residence)
This estimate for illustrative purposes only and is an estimation based on full equalized value .
Full Value: $200,000 l Month increase $6.83 l Annual Increase $82
$300,000 l Month increase $12.08 l Annual Increase $145
$400,000 l Month increase $17.33 l Annual Increase $208
Full Value: $200,000 l Month increase $8.92 l Annual Increase $107
$300,000 l Month increase $14.17 l Annual Increase $170
$400,000 l Month increase $19.42 l Annual Increase $233
Full Value: $200,000 l Month increase $10.50 l Annual Increase $126
$300,000 l Month increase $15.75 l Annual Increase $189
$400,000 l Month increase $21.00 l Annual Increase $252
For information on the STAR Program: https://www.tax.ny.gov/pit/property/star/default.htm
The Valley Central School District offers a Senior Citizen Tax Exemption for senior citizens within a qualifying income range. For more information about applying for this exemption, please contact the Town of Montgomery Assessor’s office.
The Valley Central School District offers a partial Veteran’s Tax Exemption to disabled veterans and veterans who served during wartime or were in combat. For more information about applying for this exemption, please contact the Town of Montgomery Assessor’s office.
On April 1, 2020, the NYS Legislature passed a budget that froze state aid for the 2020-21 budget. Because some state aid is tied to the previous year’s expenditure, the District is estimating a significant reduction in state aid next year, mostly in the category of transportation aid. The estimate of this reduction amounts to $1,662,338.
To make up for the this reduction, fund balance will be appropriated. With the current school closure, there are various 2019-20 expenditures that will not be fully incurred creating a savings. In the 2020-21 Budget, the needed increase in fund balance will come from these savings.
VCSD Revenue 2020-21 Percentages:
State Aid: 33%
Tax Levy: 58%
VCSD Tentative Proposed 2020-21 Expenditure Percentages:
The Valley Central School District is a collective investment by the community in its future and a reflection of its values. It is the responsibility of district leaders to work to manage the use of resources to provide the best education possible according to the mandates and requirements of the NYS Department of Education and Board of Regents to the community’s students while at the same time, developing and managing the district budget responsibly with accountability to all community members, including the taxpayers. The Board of Education is charged to adopt a budget in the spring of each school year for the following school year that is presented to the community for a vote, held on the third Tuesday in May.
The process to creating a budget that allows the district to achieve its district goals begins months before the vote. Learn more about creating a school budget here.
New York State Schools are funded by property taxes. Typically, school taxes make up about two-thirds of a property owner’s annual tax bill across the state. Valley Central School District’s taxes are collected through the Town of Montgomery Assessor’s office, which collects the taxes from all the residents of the seven towns that comprise the district. Property tax bills can be looked up here for any property in the district.
New York State offers the STAR Program to help relieve the tax burden of property owners. There is a program for home owners under the age of 65 and an enhanced program for home owners over the age of 65. The program is controlled by New York State and was recently changed by New York State in 2019. Learn more about the STAR Program here.
Valley Central School District offers two additional tax exemption programs to senior citizens and veterans. Learn more about VCSD tax exemption programs here.