State determines, through equalization process, that Towns A & B have different levels of assessment
Town A has equalization rate of 33.33
Town B has equalization rate of 50.00
What does this mean?.......................
EXAMPLE cont’d: $4 per $100 AV $6 per $100 AV Tax Rate for each Town (Tax Levy / Assessed Value) x 100 $400,000 $600,000 Tax Levy to be raised from each Town 40% 60% Percent of Market Value (and, therefore, percent of levy) for each Town Market Value of School District AB = $50 million $20 million $30 million Market Value of each Town (AV/ER) 50.00% 33.33% Equalization Rate (ER) of each Town $10 million $10 million Assessed Value (AV) of each Town Town B Town A
Equalization Rates for Towns of Huntington and Babylon:
Actual Valuation History for HHH Set by Town of Huntington
Actual Valuation History for HHH Set by Town of Babylon