2009-10

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2009-10 Powered By Docstoc
					Tompkins County Village Tax Levies
Property tax levies are the largest revenue source for the six village budgets in Tompkins County. The charts below show the increase in the property tax levy from 2004 to
2010 and the increase in the tax bases from 2003 to 2010. The levy is the amount of money raised from property taxes. The tax base is the assessed value of property in
the municipality. When levies rise faster than the tax base grows, taxpayers often see both rising tax rates and tax bills to cover the increased cost for municipal services.


                                                                                                                                                % Change
                                                                                                                                                2008 - 09 to     % Change
                     2004-05        2005-06        2006-07        2007-08        2008-09        2009-10        2010-11                           2009 -10        2004 - 2009
Dryden                 $450,506       $510,080       $543,555      $599,055        $631,285       $684,591 Village fiscal                           8.4%            52.0%
Freeville               $51,037         $59,295       $61,926        $67,169        $70,986        $93,316 years start                             31.5%            82.8%
Groton                 $435,700       $457,522       $499,660      $513,867        $530,872       $605,290 June 1.                                 14.0%            38.9%
Cayuga Heights       $1,693,781     $1,823,686     $1,925,483    $1,976,228      $1,997,053     $2,050,249 Spending                                 2.7%            21.0%
Lansing                $528,018       $541,098       $558,767      $487,023        $494,857       $509,310 plans are                                2.9%            -3.5%
Trumansburg            $329,879       $407,018       $445,839      $463,465        $562,102       $680,195 now under                               21.0%           106.2%
The Consumer Price Index calculated by the U.S. Bureau of Labor Statistics increased 15 percent from 2004-2009
Village Tax Base
                                                                                                                          % Change      % Change
                        2003           2004           2005           2006           2007          2008        2009        2008 - 2009 2003 - 2009
Dryden               $69,651,567 $76,921,536 $81,969,785 $84,231,642 $87,885,957 $107,809,630 $108,694,419                   0.8%          54.8%
Freeville            $14,898,717 $16,470,768 $17,160,774 $17,581,578 $18,012,316 $23,668,509 $23,799,300                     0.6%          58.9%
Groton               $56,488,227 $62,503,122 $66,594,640 $67,412,469 $67,296,922 $78,695,975 $79,399,269                     0.9%          39.3%
Cayuga Heights      $272,750,630 $301,435,752 $328,705,936 $330,472,966 $333,955,399 $376,192,550 $382,248,807               1.6%          37.9%
Lansing             $293,343,744 $327,938,220 $351,425,899 $347,873,805 $353,469,938 $420,915,913 $441,472,719               4.9%          43.5%
Trumansburg          $64,809,325 $77,675,172 $85,083,789 $85,889,257 $89,897,802 $110,365,823 $110,885,266                   0.5%          70.3%
All assessments are calculated at 100 percent of market value except for 2006 and 2007. For 2006 the assessment was 90 percent of market value. For
2007, the assessment was at 85 percent of market value.
Source: Tompkins County Department of Assessment

Only the Village of Lansing held the increase in property tax levies below that rate of inflation among the county's six villages. Lansing saw a 3.5 percent
reduction in the levy in its 2004-05 to 2009-10 fiscal years, while the Consumer Price Index rose 15 percent for that period. The other five all saw their
levies rise faster than the CPI for the six-year period, but much of those levy increases were balanced with a similar growth in each villages' tax base.
Trumansburg saw the greatest increase with its levy growing 106.2 percent from its 2004-05 to 2009-10 fiscal years. The levy's growth far outpaced the
70.3 perecent growth in Trumansburg's tax base.
Tompkins village taxes
Most village property taxes in Tompkins County
increased far faster than inflation from 2004 to 2009.
The exception was the Village of Lansing where the
tax bill on the average assessed value of a house
decreased over the six-year period. The chart below
shows the average assessed value of a house in
each village and the tax rate and tax bill on the
property for 2004 and 2009.
Dryden                         2004          2009
Average property value          $103,350 $138,845
Tax rate (per $1,000)              $6.02      $6.35
Tax bill                         $622.17    $881.67
Change                                          42%
Freeville                      2004          2009
Average property value           $93,288 $121,306
Tax rate (per $1,000)              $3.18      $4.07
Tax bill                         $296.66    $493.72
Change                                          66%
Groton                         2004          2009
Average property value           $81,840 $102,569
Tax rate (per $1,000)              $7.51      $7.69
Tax bill                         $614.62    $788.76
Change                                          28%
Cayuga Heights                 2004          2009
Average property value          $278,096 $355,145
Tax rate (per $1,000)              $5.91      $5.45
Tax bill                       $1,643.55 $1,935.54
Difference                                      18%
Lansing                        2004          2009
Average property value          $201,324 $266,023
Tax rate (per $1,000)              $1.75      $1.21
Tax bill                         $352.32    $321.89
Change                                          -9%
Trumansburg                    2004          2009
Average property value          $133,056 $172,807
Tax rate (per $1,000)              $4.48      $6.25
Tax bill                         $596.09 $1,080.04
Change                                          81%
The Consumer Price Index calculated by the U.S.
Bureau of Labor Statistics increased 15 percent
from 2004-2009.
Source: Ithaca Journal research

				
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