Rye Schools: $69/Month is Cost of Tax Override
PTO email and missives from the Friends of Rye City Schools are coming in hot with the schoo, budget vote a week out on Tuesday, May 19th.
The latest? For the average home owner in Rye (with a house worth $1.67 Million), funding the override is doing to run you about $69/month. That's less than your cable bill. See the math just below.
How Much Will the Budget Cost?
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PROBABLE COST OF OVERRIDE BUDGET FOR HOMEOWNERS BASED UPON APPROXIMATE HOME VALUE
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Approx. Home Value based upon Assess-ment |
Assessed Home Value |
Annual Property Tax Increase |
Monthly Property Tax Increase |
Annual Increase assum-ing tax deduct-ion of 35%* |
Monthly Increase assum-ing tax deduct-ion of 35%* |
|
$1M |
$17,400 |
$759 |
$63 |
$493 |
$41 |
|
*$1.67M |
$29,000 |
$1,265 |
$105 |
$823 |
$69 |
|
$2M |
$34,800 |
$1,518 |
$127 |
$987 |
$82 |
|
$3M |
$52,200 |
$2,277 |
$190 |
$1,480 |
$124 |
*Current average home value in Rye; *Please check with your accountant for tax advice
