How much would a $75 million bond cost Riverhead taxpayers?

05/19/2011 8:54 PM |

VERA CHINESE PHOTO | A school employee baked a cake in the shape of the Pulaski Street School for Thursday night's bond meeting.

A Riverhead Town taxpayer who owns a median-priced home would pay on average $185 extra per year for 20 years if the community were to pass a $75 million bond for infrastructure upgrades for Riverhead school buildings, according to current tax rates, school officials said.

A Riverhead Town homeowner whose house is worth $276,000 would pay an extra $39.47 for the 2013-14 school year, the year residents would start paying the bond if it were approved by voters.

That amount would increase to $210.48 in 2018, and then gradually decrease over the years.

District officials presented those numbers Thursday night at the high school, during the latest meeting of the Community Partnership for Revitalization — a group of community members, teachers and administrators dedicated to devising a community supported plan for improvements.

District officials declined to publicly release data for Southampton Town taxpayers because assistant superintendent for operations and finance Joseph Singleton said the equalization rates have not yet been set.

However, Mr. Singleton said Southampton Town residents could call his office to estimate what a $75 million bond would cost them personally.

“Each taxpayer will be able to determine , for their own home, what that tax increase will be,” Superintendent Nancy Carney said during the meeting.

At the committee’s last meeting in April, district officials presented an $80.2 million plan, though that amount has since been reduced to $78.4 million. Ms. Carney said the district can also use up to $3 million in an emergency repair funds for the project, bringing the total bond to just over $75 million.

“I really, really felt that we needed to get under $80 million,” Ms. Carney said during the meeting.

The plan calls for new construction at all district schools except for Phillips Avenue Elementary, and includes $3.8 million for new science labs at the high school.

The committee will make a formal presentation to the school board at Tuesday night’s board meeting. The board will then determine whether or not to adopt the plan and put it before the public for a vote.

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45 Comment

  • . . . PLUS your regularly scheduled tax increases.

  • Yes plus our regular tax increases across the board that we do not know how much will be. The Administration has to be nuts. With the town 10 million+ in debt already the school is going to try and hit us with 75-80 million on top of the 109million budget we just passed. People we could be looking at an increase in the neighborhood of $750 -$1000 per household per year. Can you afford this I know I can’t. This is what we get for allowing the Administrators to neglect our school and fatten their pockets the past 20-25 years.Now we get the honor of getting it stuck up our you know what. NO NO NO NO NO we can’t take it or afford it anymore!

  • Vera,

    Please don’t forget to divide the annual cost by 365, so we can be hammered with “only pennies a day!” like we were with the last bond.

    Remember, the official position of the Times Review is that all school tax increases, and all bonds further burdening our hard hit families are a wonderful thing.

    You’re supposed to be advocating for higher taxes. After all “It’s for the children.”.

  • NRG,

    That’s would it would cost for the year. We think that’s a fair and valid statistic and stand by our coverage.
    Thanks for your continued readership.

    — Grant

  • I was at the same meeting that Vera was at..and as far as I can see she reported precisely what was presented at the meeting.
    You know I have a really good idea…this whole Bond thing will be presented at the next Board Meeting on Tuesday.Why don’t you come yourself and ask the questions you want answered and then you can be the Hero of Riverhead . You yourself can uncover fraud and waste……Oh but alas that isn’t going to happen ..because you would rather attack others for not doing what you can do for yourself…..Bet I don’t see you at the meeting…..

  • The problem is most of the houses in Riverhead are overassessed. So the house you own that you could sell for 500,000 is probably assessed at 650,000. Therefore, the tax increase will be much higher than this imaginary number they picked, for the “average” house.