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Dec. 15 Capital Project Vote: Quick Facts

| December 6, 2016

Please remember to vote!

  • Thursday, Dec. 15
  •  9:00 a.m. – 9:00 p.m.
  • Polling location: Goodrich (District Office) 91 Fiddlers Ln. Latham, NY

Click here for details on the proposed project

Quick Facts

Enrollment: The driving force behind the project

Enrollment has grown by four percent since September 2014 (current enrollment is 5,549 as compared to 5,346 in 2014) and is projected to grow to 6,450 students by 2025. The district currently has very little capacity for more classrooms. Right now, elementary class sizes range from 23-30 students, where ideally the district would like to keep class sizes to no more than 25 students. Smaller class sizes allow for more individualized instruction, more opportunities to engage in project-based learning, and better opportunities to meet the social and emotional needs of all students.

Tax Impact

The initial tax rate increase would not take effect until the debt payments begin in 2022, at the earliest. If the capital project is approved by voters, the $196.4 million referendum would result in a tax rate impact totaling 5.9 percent, phased in over three years (see estimates below). The initial increase will not take effect until the project is completed in year 2022. The only mechanism for funding a building project of this size is to issue general municipal bonds in accordance with education and general municipal law.

If approved by voters, the estimated annual average tax increase for homeowners who have a home valued at $288,000 ($0.875/$1,000 of market value) would be:

  • 1.9 percent in 2022 = $84 annual increase ($7 per month)
  • An additional 2.0 percent in 2023 = $168 annual increase ($14 per month)
  • An additional 2.0 percent in 2024 = $252 annual increase ($21 per month)

The increase will continue until the bonds are retired in 10, 15 or 20 years. The current tax rate on true value is $17.01 per thousand. This is the second lowest tax rate of all schools within the Suburban Council, with only Saratoga Springs being lower.

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