$79.5 million school budget approved for 2007-08

On May 15, by a margin of 1,708 to 792, residents approved a $79,540,000 budget for the 2007-2008 school year. Voters also approved the annexation of the Maplewood School by a margin of 1,760 to 710, and elected Paula D’Orazio to North Colonie’s nine-member board.

The proposed budget represents an increase of only 2.4 percent, which is the smallest increase in more than 10 years. This translates into an estimated homestead tax rate increase of approximately 5.5 percent. About 87 percent of this increase is solely due to the change in base proportions (proportion of tax levy that is paid by homeowners and commercial properties). The district has no control over this component of district tax rates.

The average homeowner in North Colonie with a house assessed at $250,000 would see his or her taxes increase approximately $4.48 more per week, after the current basic STAR exemption is applied.

For more details about the 2007-08 budget, click here.

Click here for a budget glossary of terms.

Download 2006-07 Property Tax Report Card (PDF Document)