At a meeting on Tuesday, the Chappaqua School District administration released estimated tax rate changes with varying amounts taken from the fund balance, the district’s savings.
With no money taken from fund balance to support the 2011-12 budget, and a spending increase at $1.95 million or 1.78 percent, the tax rate increase would be 5.93 percent for New Castle residents of the district. For Mount Pleasant residents, taxes would go down 3.36 percent.
With $2 million taken from the fund balance, leaving a $3 million increase in the tax levy, taxes would go up 3.88 percent in New Castle and down 5.24 percent in Mount Pleasant. Using $3 million from fund balance would result in a 2.85 percent increase for New Castle and a 6.18 percent decrease for Mount Pleasant.
The district also calculated all the numbers if the school board decided to add another $1 million in spending. The calculations are available here on pages 16 and 17.