Capital Project Vote October 2

CAPITAL PROJECT VOTE

TUESDAY, OCTOBER 2, 2018

6:00AM TO 9:00PM

KENT ELEMENTARY SCHOOL - CARMEL HIGH SCHOOL - MATTHEW PATERSON ELEMENTARY SCHOOL

 

We’d like to share some of the questions we have heard regarding the Capital Project. If you have a question please send an email to info@carmelschools.org so that we may respond. We encourage you to get the facts and make an informed decision at the polls on Tuesday, October 2, 2018.

 

Q: What is New York State building aid and where does it come from?

A: In New York, school districts are eligible for building aid on approved capital projects. Each district is assigned a building aid ratio based on a complex formula. Carmel’s current aid ratio is 60% and a substantial portion of the proposed project is eligible. We expect to receive $20,901,955 in NYS building aid for this project. That, along with debt service that will fall off in coming years will help lower the overall taxpayer share of the project: The cost for a homeowner with an average assess house valued at $350,000 at the peak period (2021-2017) is $6.33 per YEAR (this cost includes the cost of the capital project and bond interest payments).

 

New York State education aids, including building aid, comes from sources other than your property tax. These sources include income tax from New York State taxpayers across the State, as well as corporate tax, the NYS lottery and other State-imposed fees. The manner in which the District has presented the capital projects is a way to leverage NYS support and direct monies residents have already paid to New York State back into our own community.