2017-2018 Property Tax
Per Assessed Value
School Tax Rate: $19.88/$1,000 Assessed Value
Town & County Rate: $9.72/$1,000 Assessed Value
Village Tax Rate: $7.34/$1,000 Assessed Value
Total Village Tax Payers: $36.94/$1,000 Assessed Value
For example, if you have a house assessed at $55,500, you would pay annually $2,050.17 in combined taxes. The Village portion is $407.37. If your home is assessed at $230,000.00, you would pay annually $8,496.20 in combined taxes, with the Village portion of $1,688.20 Keep in mind that almost all of the services you receive living in the Town of Busti are paid from the Village tax base. The assessment is dictated from New York State and based on several factors, including recent sales in your neighborhood and changes made to your structure. A reminder, too, that the Village’s taxes are based on the prior years’ assessment. Any changes in your assessment will not reflect in this years’ Village tax bill. And finally, ask yourself what are YOU getting from the other 80% of taxes you are paying????
Chapter 258 of the Laws of 2008 added Section 495 to the Real Property Tax Law requiring counties, cities, towns, villages and school districts to attach to their tentative/preliminary budgets an exemption report. The measure is effective October 5, 2008 and applies to budgets for fiscal years commencing on and after that date.
The new exemption reports will provide taxpayers, policy makers, media and the general public with greater transparency on property tax exemptions and their effect on overall property taxes.