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HomeMy WebLinkAboutTax CapNew York State Office of the State Comptroller- Property Tax Cap Page I of 1 Entity Information Municipal Code: 470379000000 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 11/20/2012 02:28:51 PM. Please print out a copy of this confirmation for your records. © New York State Office of the State Comptroller https://nysosc 11 .osc.state.ny.us/product/lgtaxcap.nsf/Retm-nMessage?OpenForm 11/20/2012 New York State Office of the State Comptroller - Property Tax Cap Form Page 1 of 4 Entity Information Municipal Code: 470379000000 Taxing Entity Name: Town of Southold Entity Class: Town County: Suffolk Last Updated: 11/20/2012 01:58:53 PM Tax Levy Cap Elements Amount 1. Total Real Property Tax Levy for Fiscal Year Ending (FYE) 12/31/2012 $31,452,143 2. Total Reserve Amount(including interest earned) from FYE 12/31/2012 $0 3. Tax Base Growth Factor, if any 4. PILOTS receivable in FYE 12/31/2012 5. PILOTS receivable in FYE 12/31/2013 $40,300 6. Tax levy necessary for expenditures resulting from court orders or judgments resulting from tort actions FYE 12/31/2013 $0 7. Available Carryover from FYE 12/31/2012 $404,784 https://nys~sc~.~sc.state.ny.us/pr~duct/~gtaxcap.ns~8~5ee5456~b82898525~8fe~4~a5... 11/20/2012 New York State Office of the State Comptroller - Property Tax Cap Form Page 2 of 4 8. Pension Exclusion Calculator. Your responses below will determine the allowable pension exclusion on page 2. The applicable rates will be applied to the Salary Base amounts on this page. a. Salary Base provided by Teachers' Retirement System (TRS) for payment due September - November 2013 b. Pension Contribution Amortization. Check the box(es) for each annual contribution, due in your fiscal year beginning in 2013 that you plan to amortize: ['iiii Employees' Retirement System (ERS) annual contribution l!i_~ Police and Fire Retirement System (PFRS) annual contribution c. Check the box for when your ERS annual contribution will be paid: f' February 2013 (on State Fiscal Year 04/01/2012 - 03/31/2013) {o December 2013 (on State Fiscal Year 04/01/2013 - 03/31/2014) $11,331,900 d. Check the box for when your PFRS annual contribution will be paid: ~ February 2013 (on State Fiscal Year 04/01/2012 - 03/31/2013) {~ December 2013 (on State Fiscal Year 04/01/2013 - 03/31/2014) $5,838,944 9. Transfer of local government function(s) (as determined by OSC): a. Costs $0 b. Savings $0 https://nysoscl 1.osc.state.ny.us/product/lgtaxcap.nsff805ee545670b8289852578fe0047a5... 11/20/2012 New York State Office of the State Comptroller - Property Tax Cap Fom~ Page 3 of 4 Tax Levy Cap - Calculations and Totals Tax Levy Limit (Cap) Before Adjustments and Exclusions Tax Levy FYE 12/31/2012 $31,452,143 Total Reserve Amount $0 Tax Base Growth Factor 1.0055 PILOTS receivable FYE 12/31/2012 $38,900 Tort Exclusion Amount Claimed in FYE 12/31/2012 $0 Allowable levy growth factor 1.0200 PILOTS receivable FYE 12/31/2013 $40,300 Available Carryover from FYE 12/31/2012 $404,784 Total Levy Limit Before Adjustments/Exclusions $32,661,794 Adjustments for Transfer of Local Government Functions Costs incurred from transfer of local government functions $0 Savings realized from transfer of local government functions $0 Total Adjustments $0 Tax Levy Limitt Adjusted for Transfer of Local Government Functions $32,661,794 https://nysoscl 1.osc.state.ny.us/product/lgtaxcap.nsf/805ee545670b8289852578fe0047a5... 11/20/2012 New York State Office of the State Comptroller - Property Tax Cap Form Page 4 of 4 Exclusions Tax levy necessary for expenditures resulting from tort orders/judgments $0 over 5% FYE 12/31/2012 tax levy 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 ~ercentage points: TRS $0 ERS $0 PFRS $64,228 Total Exclusions $64,228 ITax Levy Limitf Adjusted for Transfers, Plus Exclusions $32,726,023 Proposed Levy for FYE 12/31[2013 [ $32,101,640 Difference Between Tax Levy Limit Plus Exclusions and $624,383 Proposed Levy Do you plan to override the cap in 20137 Yes ~e No © New York State Office of the State Comptroller https://nysoscl 1.osc.state.ny.us/product/lgtaxcap ns£/805ee54567068289852578fe0047a5.., 11/20/2012