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By Paul Butrico.  Property Tax  A tax assessed on real estate by the local government. The tax is usually based on the value of the property (including.

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Presentation on theme: "By Paul Butrico.  Property Tax  A tax assessed on real estate by the local government. The tax is usually based on the value of the property (including."— Presentation transcript:

1 By Paul Butrico

2  Property Tax  A tax assessed on real estate by the local government. The tax is usually based on the value of the property (including the land) you own.  Revenue  Income. Amount of money received by company or organization.

3  The City of Saratoga Springs has to collect a certain amount of revenue each year.  The more money Saratoga brings in from resources other than property taxes the less Saratogians have to pay. Based on a percentage.

4  Due to Saratoga’s Unique Springs, Saratoga draws a large number of alternative medicine practitioners.  Massage therapy  Acupuncture  Chiropractic  Spas Roosevelt Baths  All of the above have to pay the city for licences, building permits, etc.

5  Many of Saratoga’s attractions focus on Saratoga’s history.  National Museum of Racing and Hall of Fame  National Museum of Dance and Hall of Fame  New York State Military Museum  Gideon Putnam Resort  Yaddo Gardens

6  Horse Racing is the most influential part of Saratoga’s economy.  Revenue generated by Horse related subjects  Race Track: $32,142.06 (2012)  NYRA Admissions: $449,389.87 (2012)  Casino and Raceway: 156,000,000* (2011) * Casino and Raceway revenue only, not money given to city.

7  Other notable sources of revenue.  Building Permits: $267,112.13 (2012)  Sales Tax: $7,563,191.53 (2012)  Franchise: $470,568.42 (2011)  Hotel Occu: $375,633.75 (2012)

8  Saratoga Springs total property tax collection:  $15,547,135.66 (2012)  New York State’s Average Property Tax:  $3,755  Saratoga’s Average Property tax:  $3,060

9  http://www.saratoga- springs.org/index.php?option=com_remository&Itemid=67&func=s tartdown&id=3191 http://www.saratoga- springs.org/index.php?option=com_remository&Itemid=67&func=s tartdown&id=3191  http://www.investopedia.com/terms/ http://www.investopedia.com/terms/  http://www.casinocitytimes.com/news/article/saratoga-casino- and-raceway-report-record-revenue-year-200582 http://www.casinocitytimes.com/news/article/saratoga-casino- and-raceway-report-record-revenue-year-200582  http://governor.ny.gov/citizenconnects/?q=reforminggovernment /propertytaxmap# http://governor.ny.gov/citizenconnects/?q=reforminggovernment /propertytaxmap#

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