Loading...
HomeMy WebLinkAboutTax Cap New York State Office of the State Comptroller- Property Tax Cap Page 1 of 1 Entity Information Taxing Entity Name:Town of Southold Entity Class:Town County:Suffolk Thank you for submitting your Tax Cap form to the Office of the State Comptroller on 11/10/2011 12:09:58 PM. Please print out a copy of this confirmation for your records. © New York State Office of the State Comptroller https://nysoscl l.osc.state.ny.us/product/lgtaxcap.nsf/RetumMessage?OpenForm " 11/10/2011 New York State Office of the State Comptroller - Property Tax Cap Page 2 of 2 Tax Levy Cap - Calculations and Totals Tax Levy Limit (Cap) Before Adjustments and Exclusions 8. Tax Levy FYE 12/31/2011 $30,992,586" 9. Tax Base Growth Factor 1.0077+ 10. PILOTS receivable FYE 12/31/2011 $39,190' 11. Allowable levy growth factor 1.0200- 12. PILOTS receivable FYE 12/31/2012 $38,900 13. Total Levy Limit Before Adjustments/Exclusions $31,856,927 Adjustments for Transfer of Local Government Functions 14. Costs incurred from transfer of local government functions $0- 15. Savings realized from transfer of local government functions $0 16. Total Adjustments $0 17. Tax Levy Limit, Adjusted for Transfer of Local Government $31,856,927 Functions Exclusions 18. Tax levy necessary for expenditures resulting from tort $0+ orders/judgments over 5% FYE 12/31/2011 tax levy 19. Tax levy necessary for pension contribution expenditures caused by growth in the system average actuarial contribution rate(ERS; PFRS)or normal contribution rate(TRS) in excess of 2 percentage points: a. ERS $60,119+ b. PFRS $140,511+ c. TRS $0 20. Total Exclusions $200,630 21. Tax Levy Limit, Adjusted for Transfers, Plus Exclusions $32,057,557 22. 2012 Proposed Levy r $31,452,143 23. Difference Between Tax Levy Limit Plus Exclusions and Proposed Levy $605,414 24. Do you plan to override the cap in 2012? C Yes 3 No © New York State Office of the State Comptroller https:Hnysosc l l.bsc.state:ny.uS/product/tgtaxcap:nsf/805ee54567Ob8284852578feOO47a5 11/1-9/2011 New York State Office of the State Comptroller- Property Tax Cap Page I of 2 Entity Information Taxing Entity Name:Town of Southold Entity Class:Town County:Suffolk Tax Levy Cap Elements Amount 1 1. Total Real Property Tax Levy for Fiscal Year Ending (FYE) 12/31/2011 $30,992,586 2. Tax Base Growth Factor, if any �� 1.0077 3. PILOTS receivable in FYE 12/31/2011 I $39,190 4. PILOTS receivable in FYE 12/31/2012 �� $38,900 5. Tax levy necessary for expenditures resulting from court orders or judgments �— $0 resulting from tort actions FYE 12/31/2012 6. Tax levy necessary for pension contribution expenditures caused by growth in the system average actuarial contribution rate(ERS; PFRS) or normal contribution rate (TRS) in excess of 2 percentage points: a. State and Local Employees' Retirement System (ERS) �— $60,119 b. Police and Fire Retirement System (PFRS) $140,511 c. Teachers' Retirement System (TRS) �— $0 7. Transfer of local government function(s) (as determined by OSC): r— a. Costs 1 $0 b. Savings �— $0 https://nysosc l l.osc.state.ny.us/product/lgtaxcap.nsf/805ee545670b8289852578fe0047a5..:=3-11101201 F r- Line 1 Total Real Property Tax Levy in 2011 A 21,734,453.00 B 783,364.00 DB 4,583,931.00 DBI 2,965.00 SF 712,563.00 SR 1,877,246.00 SS1 SS2 Tax Cert's € rAK g� Total 30,992,585.50 Line 2 Tax Base Growth Factor 1.0077 Line 3 PILOTS Receivable in HE 2011 (budget) A 31,114.02 B 1,178.79 DB 6,897.36 39,190.17 Line 4 PILOTS Receivable in 2012 (budget) 38,900M Total Tax Levy necessary for expenditures from court Line 5 orders or judgements resulting from tort actions HE 2012 - Tax Levy necessary for pension contribution expenditures caused by growth in the system average actuarial Line 6 contribution rate in excess of 2% 200,630.23 Transfer of Government Function(s) as determined by Line 7 OSC - Line 8 Tax Levy HE 12/31/11 30,992,585.50 Line 9 Tax Base Growth Factor 1.0077 Line 10 PILOTS Receivable FYE 12/31/11 39,190.17 Line 11 Allowable Levy Growth Factor 1.02 Line 12 PILOTS Receivable FYE 12/31/12 38,900.00 Line 13 Total Levy Limit Before Adjustments/Exclusions 31,856,926.95 Costs incurred from transfer of Transfer of local Line 14 government functions Savings realized from transfer of Transfer of;ocal Line 15 government functions Line 16 Total Adjustments Tax Levy Limit, Adjusted for Transfer of Local Government Line 17 Functions 31,856,926.95 Tax Levy necessary for expenditures resulting from court Line 18 orders/judgements over 5% FYE 12/31/11 tax levy Tax levy necessary for pension contribution expenditures caused by growth in the system average actuarial Line 19 contribution rate in excess of 2 percentage points 200,630.23 Line 20 Total Exclusions 200,630.23 Line 21 Tax Levy Limit,Adjusted for Transfers, Plus Exclusions 32,057,557.18 Line 22 2012 Proposed Levy 30,414,642.00 Line 22 Tax Cert's- 2012 Difference Between Tax Levy Limit Plus Exclusions and Line 23 Proposed Levy 605,413.81 Line 24 Do you plan to override the cap in 2012? Yes or No Determine the change in the system average actuarial contribution rate for each of the major Step 1 pension systrems (ERS. PFRS). Percentage SFY 11-12 Sys. SFY 12-13 Sys. Points Average Average Difference ERS 16.30 18.90 2.60 PFRS 21.60 25.80 4.20 If the annual growth in the system average actuarial contribution is greater than 2 percentage points, the amount above 2 percentage points is the portion of the associated salary base that may Step 2 be excluded. Percentage Local Points Responsibility Excludable Difference not excludable amount ERS 2.60 2.00 0.60 PFRS 4.20 2.00 2.20 Multiply the excludable portion by the associated Step 3 salary base Excludable Excludable portion Salary Base amount ERS 0.60 10,019,871 60,119.22 PFRS 2.20 6,386,864 140,511.01 Step 4 Add excludable amount to the base levy limit. $ 200,630.23 Erroneous Assessments and Tax Refunds All Town 2010-11 Warrants 1,319,095.23 1,298,063.50 2011-12 Warrantz 1,066,460.27 1,037,501.37 Difference (252,634.96) (260,562.13) s Per warrant 2 Per Tim Laub 10/25/11