cross posted at the Irvington Parents Forum *
Proposed Tax Rate Increase: 4.31%
Average assessment in Irvington = $24,500
Approximate full value = $731,000
Estimated increase in school taxes for the average assessed home = $604.17
History of Irvington tax rate increases:
Proposed 2011-12: 4.31%
In the years 2005-2009, we saw increases far beyond the rate of inflation.
Inflation for 2010 was 1.6%, so again we are far above inflation. (Core inflation - excluding food and energy prices - was only 0.7% from October 2009 to November 2010.)
Here’s a chart of core inflation since 1971: **
If you superimpose Irvington’s percent change in tax rates on this graph, the problem becomes obvious. Annual tax rate increases well beyond inflation make school spending unsustainable.
BLS Consumer Price Index – January 2011 (pdf file)
Forecasters Expect Solid Growth, Low Inflation in 2011 (pdf file)
* If any of you would like to join the Irvington Parents Forum, please do. We have members from around the country.
** I don't know why the label on this chart is "Core inflation, previous 12 months." UPDATE from gasstationwithoutpumps: Inflation is usually measured as a ratio of two index values taken at different time points, divided by the time between the points. The label is saying what index is used and what pair of time points (the core index at time on the x-axis divided by the same index 12 months earlier).