School tax rate plummets to $10.44 for Albion, Gaines after reassessments

ALBION – Tax bills in the Albion school district will soon be coming out and will show significantly lower tax rates for property owners in the towns of Albion and Gaines, which completed townwide reassessments earlier this year.

In Albion and Gaines, the tax rate dropped $4.25 per $1,000 of assessed property for the school while the library rate is down 32 cents. The rate is down from $14.69 to $10.44 per $1,000 in both towns.

The school district’s total taxable value is at $775,416,283, which is up 22.7 percent or by $143,199,243 from the $632,217,040 a year ago. That increase is driven by the changes in Albion and Gaines. The Town of Albion’s assessed value is up $92,793,967 – 39.3 percent, while Gaines is up $50,703,658 or 37.4 percent.

The tax levy remains at $8,449,039 for the school district. Albion hasn’t increased the school taxes in 16 of the past 18 years.

The school tax bills also include the bills for the Hoag Library. The library’s tax levy will be $664,510, up from $654,510 last year.

Albion, Gaines and Elba are all at full 100 percent equalization rates after completed their town-wide reassessments. Other towns have lower equalization rates set by the state which results in higher tax rates. That is done to try to have those property owners pay their fair share.

Ridgeway and Carlton are at 97 percent equalization rates, Kendall at 94 percent, Barre at 80 percent and Murray at 66 percent.

Here is a snapshot for each town in the school, with the past year in parentheses:

• Albion, assessed value – $329,042,669 ($236,248,702); tax rates: $10.44 school, 82 cents for library
• Barre, assessed value – $105,801,769 ($106,749,208); tax rates: $13.05 school, $1.03 for library
• Carlton, assessed value – $146,333,432 ($145,684,900); tax rates: $10.76 school, 85 cents for library
• Gaines, assessed value – $186,362,530 ($135,658,872); tax rates: $10.44 school, 82 cents for library
• Kendall, assessed value – $1,247,077 ($1,240,031); tax rates: $11.10 school, 87 cents for library
• Murray, assessed value – $5,977,846 ($5,989,786); tax rates: $15.81 school; $1.24 for library
• Ridgeway, assessed value – $252,759 ($251,914); tax rates: $10.76 school; 85 cents for library
• Elba, assessed value – $398,201 ($393,627); tax rates: $10.44 school, 82 cents for library