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Property Tax Increases are Alarming
To the Editor
I have been waiting to see if anyone else is concerned enough about the incredible escalation of property taxes here in Philipstown to write a letter expressing such concern. Much to my amazement, no letter has been forthcoming, so here is mine.
First, let's review the data. In the 2002/03 tax year, the (Cold Spring) school tax rate was $20.151 per $1000 Assessed Value (KAV). In that same year, the total Philipstown Net Taxable Ratables (PNTR) was $896,497,587.
For this current 2006/07 tax year, the (Cold Spring) school tax rate was $30.015 per KAV, and the total PNTR was $948,977,844. Simple calculations yield a stunning 49% increase in school tax with only a meager 5.8% net increase in ratables. During that same 5 year period, the US Department of Labor Consumer Price Index (essentially the escalation in the cost-of-living) shows a total increase of about 13.5%. Allowing for this 13.5% CPI increase, plus a 5.8% increase in ratables, one would expect an accompanying tax increase to be at most the sum of the two, or about 19.3%. That is obviously NOT the case: we have exceeded that by 30%.
In a recent article in the NY Times (11/26/06), they researched out property taxes in the NY Metro region (Putnam was not included), and the most expensive town was Pelham with a total tax rate of $20.55 per KAV! We are 50% higher than they are, and that's just our school tax! This is alarming, to say the least. Has your paycheck, pension or social security check increased by 49% in that same period? Mine certainly hasn't, and I suspect most other folks' paychecks haven't either.
I was moved to write this letter after reading our Town Supervisor's lament (in the 11/ 21 issue of PCN&R) that "…it is getting very difficult because the Town doesn't have any revenues. We rely on Property Taxes. Philipstown does not have a large commercial base to offset the burden on private residents…" as the Town Board collectively shrugged and passed a budget slamming taxpayers with a 13% increase in town tax rates - the second double digit town tax increase in a row. Are the various Boards to blame, or are we?
If we elect School Board members who preside over a 49% increase in school taxes, who is to blame? If the elected Town Board appoints citizens of its own choosing to the various advisory committees, and those (well meaning) citizens reach the Build-Absolutely- Nothing-Anywhere-Near-Anything (BANANA) conclusion, and we end up with plans like the Philipstown 2020 Plan, which concludes grandly that we should just encourage 'home businesses'…well, what can we expect then? I have some positive suggestions which I look forward to sharing with everyone. Maybe some other folks have some positive suggestions as well. If so, let's hear 'em!
Chris Fadden
Cold Spring
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