So Colonie tax rate higher than projected for homeowners,lower for business owners

Last night (Thursday, Aug.28) at a special meeting of the South Colonie Board of Education, board members decided on a tax rate which is higher than the originally projected 4 percent increase for homeowners that voters had voted on when they voted on the 2008-2009 budget in May.

The district blames the increased rate on a change in equilization rates, or a shift of the tax burden between residential and commercial properties.

The new tax rate for a homeowner will increase 5.92 percent, or $22.62 per $1,000 of assessed value, and $25.61 per $1,000 of assessed value for commercial property owners.

For more on this story, check back at www.spotlightnews.com, or read the Sept. 3 print edition of the Colonie Spotlight."

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