Tax Math
An article in the River Journal claiming that the cumulative increase in county/town, village, and school taxes for 2007/2008 will range from 18 to 21% for Tarrytown and Sleepy Hollow residents has provided math teachers with an excellent illustration for use in responding to the classic question from their students … “When will I ever need to use this stuff?” The fact is that if three tax bills each increase by 6 to 7%, your total tax bill will increase by 6 to 7%. While such an increase may seem high in its own right, an additional math calculation involving the state’s new middle class STAR program turns out to be very important. Net 2007-2008 school tax payments after STAR deductions for owners of homes in Tarrytown and Sleepy Hollow with mid-range or lower valuations whose combined incomes are $175,000 or less will be lower than their net school tax payments in 2006-2007 after STAR deductions. For many homeowners, this year’s school tax math will add up in their favor!
0 Tax Increase Impact Scenario of New STAR program for 2007-08
Here is some more information on the new STAR program:
