Property taxes are influenced by many complex factors that are not
controlled by the Board of Education. These include changes in assessed
valuation, base proportions (the amount paid by homeowners compared to other
classes of real property, such as businesses), equalization rates (the
proportion of the tax levy paid by property owners in North Hempstead
compared to Oyster Bay) and the STAR and other tax exemptions.
These and other factors often change from year to year and could result in some homeowners seeing their school taxes actually decrease slightly while others will have increases higher than the average. Reassessment of individual homes could also affect taxes paid. The average tax assumes a 0.95% increase in the base proportion for Class I, which has now been certified by the Nassau County Legislature. It is also important to note that there may not be a single home in Roslyn that is actually assessed at the "average" in North Hempstead of $2,245 (market value of $898,000) for which the tax increase would be $542, or 4.8%.
With all these caveats, in the interest of providing as much information as possible to our residents, we are projecting tax increases for homes in Roslyn to range from
$318 for a house with a market value of $500,000
$636 for a house with a market value of $1,000,000
$954 for a house with a market value of $1,500,000
assuming that these homes increased in value at exactly the same rate as the "average" home in North Hempstead.