continued For property assessments, the town of Niskayuna saw an increase of $7 million in its assessment base with no increase in its equalization rate, and the Town of Guilderland saw a decrease of $370 and an increase in its equalization rate of 1.2 percent.
These numbers will look a bit different next school year, Fisher said, as the tax cap passed by the legislature this past session will go into effect. It will cap increases in the property tax levy at 2 percent or the rate of inflation, whichever is lower. This year’s increase was at 2.97 percent, an increase of $1.8 million from last year.
Fisher said she is not sure what sort of impact the cap will have, but there will be a change in the district’s budget.
“Depending on what the budget looks like or the equalization rates, I can’t say what the impact will be,” she said. “As more information becomes available we’ll be able to provide more.”