ALBANY - School property taxes in New York continue to grow at roughly twice the rate of inflation, according to a report state Comptroller Thomas DiNapoli released Wednesday.
The taxes increased between 7.6 and 8.1 percent annually from 2002 to 2005 before dropping slightly in 2006 to 6.8 percent and 5.9 percent in 2007. That compares to an annual inflation rate of around 3 percent.
“All this pressure on homeowners highlights the need to make sure that every dollar spent on education is spent effectively,” DiNapoli said in a written statement.
School districts account for nearly half of all local government revenues and 62 percent of all property taxes levied outside of New York City.
Wealthier school districts rely more heavily on property tax revenue, according to the report. Thirty-one districts received 90 percent or more of their revenues from property taxes, 25 of which are on Long Island.
But Dave Albert, a spokesman for the New York State School Boards Association, said the report doesn't take into account 2007 budget changes that altered the way education funding is distributed.
The current amount of school aid statewide is $19.5 billion, after the Legislature and Gov. Eliot Spitzer agreed to a 9.5 percent increase over the previous fiscal year, worth about $1.8 billion.
“We think that's going to start to bring New York up to a higher percentage of state aid ... and that should reduce some of the property tax burden,” Albert said.
Schools will get an additional $5 billion in state aid by 2010, based on the new formula for directing funds, Albert said.
Federal aid covered only 5 percent of school district expenses in 2005.
DiNapoli plans to audit all of New York's 832 school districts by 2010.
On the Net
http://www.osc.state.ny.us/localgov/pubs/finschools.pdf.
“All this pressure on homeowners highlights the need to make sure that every dollar spent on education is spent effectively,” DiNapoli said in a written statement.
School districts account for nearly half of all local government revenues and 62 percent of all property taxes levied outside of New York City.
Wealthier school districts rely more heavily on property tax revenue, according to the report. Thirty-one districts received 90 percent or more of their revenues from property taxes, 25 of which are on Long Island.
But Dave Albert, a spokesman for the New York State School Boards Association, said the report doesn't take into account 2007 budget changes that altered the way education funding is distributed.
The current amount of school aid statewide is $19.5 billion, after the Legislature and Gov. Eliot Spitzer agreed to a 9.5 percent increase over the previous fiscal year, worth about $1.8 billion.
“We think that's going to start to bring New York up to a higher percentage of state aid ... and that should reduce some of the property tax burden,” Albert said.
Schools will get an additional $5 billion in state aid by 2010, based on the new formula for directing funds, Albert said.
Federal aid covered only 5 percent of school district expenses in 2005.
DiNapoli plans to audit all of New York's 832 school districts by 2010.
On the Net
http://www.osc.state.ny.us/localgov/pubs/finschools.pdf.
