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WCS Examines Tax Cap Formula

Waterville Central School District’s financial picture isn’t so bad after all.

Mike Shusda of Fiscal Advisors spoke at last week’s WCS Board of Education meeting.

Shusda reviewed the District’s property tax formula for 2024-25 and the overall financial status.

Shusda is a former math teacher, district business official, assistant superintendent and Board of Education member.

He’s been with Fiscal Advisors since retiring from the Baldwinsville School District 14 years ago.

Shusda had some criticisms of the formula New York state uses to have school districts determine how much their property tax levy can increase.

One of the calculations is for Payment In Lieu Of Taxes agreements.

Those are done with companies, such as solar and wind commercial businesses, so they get a lower payment than if they paid taxes on their property.

“How can a property tax formula include PILOT,’’ Shusda said. “It has no business being there.’’

Other numbers inputted in the formula include claims and judgements, Cost of Living (which is capped at 2 percent), and a district’s Capital Projects debt service.

Looking at Waterville’s formula - which is due to the state March 1 - Shusda said using $300,000 of the District’s fund balance ...


The full story is in this week's edition of the newspaper. 

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