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.
It is important to note that there may not be a single home in Roslyn that is actually assessed at the "average" in North Hempstead of $2,281 (market value of $912,400) for which the tax increase is estimated to be $671, or 5.66%.
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 the Roslyn School District to range from
• $373 for a house with a market value of $500,000
• $747 for a house with a market value of $1,000,000
• $1120 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.
NOTE: The estimated average tax increase was updated based on new information received from the Nassau County Department of Assessment on May 2, 2008. The estimate is lower than the one in the printed edition of the SCOPE newsletter, which went to press prior to the receipt of the revised assessment information. The online version of the newletter has been updated.