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Sunday, August 14, 2022
Home Schools Rye Schools: $69/Month is Cost of Tax Override

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?

 

PROBABLE COST OF OVERRIDE

BUDGET FOR HOMEOWNERS

BASED UPON

APPROXIMATE HOME VALUE

 

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

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