The Niagara Falls City School District is getting closer to implementing equal tax rates for homeowners and business owners alike, but commercial properties will still be taxed slightly more for the coming year.
James Ingrasci, business administrator for the district, said Thursday owners of business properties will play 53 cents more than those of residential properties in school taxes per $1,000 assessed valuation.
Business property taxes have been significantly higher than residential taxes for many years but have been gradually adjusted to close the gap.
By next year, the full equalization of the rates should be completed, Ingrasci said.
“(The city’s) policy apparently is to reduce it by 2 percent a year,” Ingrasci said. “It looks like if assessments and valuations stay the same, that will bring it to one rate next year.”
The Niagara Falls City Council certified the 2 percent reduction for 2008-09 school taxes Monday. The city has been attempting to eliminate its dual homestead/non-homestead taxing system for several years, but at Monday’s council meeting City Assessor Dominic Penale Jr. said it would be harder for the city to close the gap.
School board member Russell Petrozzi, a businessman, said Thursday the school board has “done (its) share” and the city needs to make a better effort to reduce the burden on businesses in the city.
“They changed our proportions because it’s easier to shift the burden of our taxes but they haven’t done anything with their taxes,” Petrozzi said.
The Niagara Falls Board of Education also held its annual reorganizational meeting Thursday night, a formal step to renew its policies for the 2008-09 year.
The board re-appointed board president Robert Kazeangin as president and Don King as vice president. The board suspended its district policy prohibiting a member from serving more than two consecutive years as president or vice president to allow Kazeangin and King to hold onto their positions for a third year.
The board also renewed retainer agreements with attorneys Angelo Massaro and James Roscetti. Massaro will be paid $96,987 per year while Roscetti will be paid $91,702.
Local News
FALLS SCHOOLS: Business tax gap closing
Business, homestead rates equalizing for school taxes
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SLIDESHOW: Memorial Day Weekend 2012
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Legislation protecting Falls air base units moves forward
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Korean student robbed at gunpoint in Falls
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Davis will not seek Murphy removal
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Labor group laments economic development efforts
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Repaving work on Old Military Road rises to $790K
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Marching to the new veterans memorial
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Memorial Day may mean cookouts with hot dogs and hamburgers, a trip on the river in a boat or simply a day off from work Monday.
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