The proposed capital improvement project is anticipated to have no additional impact on the local tax share.
The proposal will be covered by New York State building aid and the existing local tax levy. The project is timed so that debt service from past capital projects will soon be retired, and the local share to be paid by taxes for the proposed capital improvement project will be similar to the local share that is currently being paid on the retiring debt – thus resulting in no increase to the tax levy for debt service.