However, Fairchild noted, an increase in the tax rate is likely as a result of the Pfizer property’s removal from the tax rolls.
Though the facility is under contract to be sold to Victor and Stephen Podd of Northstar Private Capital LLC, the superintendent said the district is uncertain when the property will return to the tax rolls, what its assessed value will be or whether it will warrant payments in lieu of taxes.
For that reason, he said, the spending plan was developed under the assumption that the property will not be taxable in 2013-14, and, therefore, the district wished not to approach its tax-levy limit, as that could have resulted in a large tax-rate increase.
“(We) didn’t want that for the community,” Fairchild said.
PFIZER SALE HOPEFUL
Still, Chazy Central’s actual tax rate won’t be determined until the end of the summer, when annual property assessments are made available.
The board’s plan, Fairchild noted, is to use the former tax-certiorari money over the next several years to gradually stabilize the tax rate.
He added that the district is hopeful that the sale of the old Pfizer facility will bring jobs to the area, as well as additional assessment for the tax rolls.
“We’re excited,” Fairchild said of the prospects.
CCRS will hold a public budget hearing at 6 p.m. Tuesday, May 14, in the school’s board room, when he will present a detailed overview of the spending plan.
The budget will go up for public vote on Tuesday, May 21.
Email Ashleigh Livingston:firstname.lastname@example.org