Town of Poughkeepsie - Property Tax Rate Trends
2002 - 2005 & 2006 Projected &ACTUAL
[SCROLL TO THE BOTTOM OF THE PAGE FOR THE 2006 ACTUAL STORY!]

Upset About Your Taxes? ? ? ? ?
E-Mail Ginny

Statement of County/Town Taxes - Town of Poughkeepsie - Fiscal years 2001-2006

The Big Question is "Did we gain or lose ground on assessed values - Tax Base - 2006 vs 2005?

Each year as the assessed value of Non Homestead [Commercial] decreases,
the greater the Homestead (Residential) Properties Tax Levy Increases - See Image Below

In addition to the loss of Tax Base due to properties being taken off the tax rolls by Tax-Exempt Entitites, the loss of Non Homestead Tax Base appears to have direct relationship to our increase in Taxes - Notice how beginning in abt. 2003 the Tax Levy on Residential [Homestead] Properties exceeded the Tax Levy on Commercial [Non-Homestead] Properties, Whereas in 2001 and 2002 the Reverse was True. What will 2006 Bring? Remember IBM had a large decrease in their Assessment!

Voters Vote by their Pocketbook - Businesses Vote by Relocating!

Hence the decrease in Commercial Tax Base!

2006 Projected Property Tax Rate per $1,000 Assessed Value
Based on Supervisor JOE DAVIS Tentative Budget prepared September 30, 2005
and
Assessed Property Values obtained from the Assessor's office October 2005

Note:
The Tax Rate last projected above of $6.996109 per $1,000 assessed value
for Homestead Properties (Outside Village)
was projected based on the Supervisor's Spending Plan being reduced by $329,774.
On October 26, 2005 the Supervisor's Spending Plan was reduced by $396,560 or $66,786 more than projected.
This will make pennies difference in the Projected Tax Rate per $1,000 assessed evaluation last presented above. Currently it is estimated that the 2006 property tax will reveal between a 6 & 7% increase over 2005 Taxes. A Homestead Property (outside Village) assessed at $100,000 will most likely receive a tax bill in 2006 showing the Town Portion to be between $690 and $700. Last year [2005] the tax bill on the same parcel would have been $655. An increase of between $35 & $45 on a home assessed at $100,000.

In addition, this means our taxes in the Town of Poughkeepsie for a Homestead Parcel [outside Village]
will have increased greater than 50% in the last 4 years. [see Ginny's 2006 Projected Tax Impact Chart Below]

This is what the Poughkeepsie Journal Reported on October 27, 2005
based on information from the Town Comptroller's office.

Impact
- Proposed 2006 budget: $25,939,115.
- Spending increase: 6.2 percent.
- Tax rate increase: 4.5 percent.
- Projected increase in town taxes for home assessed at $200,000: $60.
Source: Town comptroller
[SCROLL TO THE BOTTOM OF THE PAGE FOR THE ACTUAL 2006 STORY!]

Ginny's Projected 2006 Tax Impact

I guess we will have to see when our tax bills arrive who was right! Ginny or the Comptroller or Neither???

Well Folks the 2006 Tax Bills have arrived!

The Town Tax Rate for a Homestead Parcel [Outside Village] is $7.0740

The 2005 Town Tax Rate for a Homestead Parcel [Outside Village] was $6.5460

A person with a home assessed at $200,000 is really faced with an increase of 106.00 in their Town Taxes - a far cry from the figures presented by the Town and Presented in the October 27, 2005 Poughkeepsie Journal Article.

I was a bit low in my projections but not as low as "JOE"

The Total Increase in Town Taxes over the 4 years of Supervisor Joe's Term in Office:

55% on a Homestead Parcel [Outside Village]

The Real Story!