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Cohoes City School District

Budget & Finance

2016-17 school district budget developmentProposed 2016-17 budget, $41,425,588. 0% Tax levy increase. Vote May 17

April 21, 2016Board approves 41.4 million 2016-17 proposed budget

Final 2016-17 Budget Highlights>>

2016-17 Budget newsletter and notice (mailed to all residents)>>

 

March 9, 2016The Cohoes City School District presented the budget highlights at it's first in a series of workshops to develop the 2016-17 school budget. The district projects an increase of $894,558 (2%) over the current year budget.

After the tax cap calculation resulted in a possible 0.17% allowable levy increase this year, the district opted for a school with a 0 percent tax levy increase for residents.

 

Jan. 14, 2016Gov. Cuomo outlines school aid proposal and education agenda for 2016-17

April 7, 20162016-17 state budget includes 1.5 billion education funding increase, end to GEA

 

2016-17 Budget Development - Critical Path Timeline>>

 

Cohoes City School District 2015-16 school budget at a glance...

Total Budget: $40,290,105
Spending Increase: 1.84%
Tax Levy Increase: 1.00% (below “cap”)

 

Property Tax Freeze Credit

New York’s Property Tax Freeze Credit was signed into law in April 2014 as part of the 2014-15 New York state budget. The measure is designed as a short-term tax relief program that reimburses qualifying New York homeowners (outside of New York City) for increases in local property taxes on their primary residences.

In 2014-15 and 2015-16, Cohoes residents qualified for the credit.

For more information on the Property Tax Freeze Credit fact sheet [PDF]

 

Smart Schools Bond Act

New York’s Smart Schools Bond Act was approved by voters in November 2014. The $2 billion bond act is intended to provide school districts with funding for new educational technology and infrastructure improvements to enhance learning opportunities for all students across the state.

Read the Smart Schools Bond Act Fact Sheet [PDF]

 

Understanding New York's Tax Levy Cap

When Cohoes voters head to the polls to vote on the school budget each year, they cast votes for a budget plan shaped in part by a law known to many as the Property Tax Cap. Approved by the State Legislature in 2011, this complex law is intended to provide much needed property tax relief.

The law does not create a cap, but a threshold that determines the level of voter support needed to pass the budget every year. That threshold is different for every school district in the state.  

Tax cap fact sheet [pdf] - Three Levy Numbers

Tax Levy Limit Formula - How does it work? [PDF]

 

Tax rate v. tax levy

The tax levy is the total amount of money the school district raises in property taxes. Actual tax rates are dependent on several factors including assessment practices and equalization rates.

Tax rates are not set until July — after the state certifies assessment rolls for the properties in the city of Cohoes. Tax bills are sent out in September after this process has concluded. The school district has no control over assessment practices — and does not collect more in taxes than the amount it levies.

the STAR Tax Relief program Fact Sheet [PDF]

Public Employee Pensions in New York State [PDF]

Mandates and Mandate Relief [PDF]

Today's contingent budgets [PDF]

 

Information on tax collection>>

 

Business Office

Stacy Mackey, School Business Official
7 Bevan Street, Cohoes NY 12047
(518) 237-0100