1. 3 rd Quarter Estimated Tax Increase Review July 1, 2014 Caucus Meeting

2. Your Property Taxes

3. The Mistake The increase is largely attributed to an error made by the Audubon School District when they filled out the A4F form incorrectly for the tax levy within their 2013-2014 fiscal budget. The school district has decided to spread the mistake out over four years to reduce the financial impact of the mistake. This year the error alone caused an annual increase of $79 of the school total increase of $430 on the average assessed home in Audubon ($209,000).

4. 2014 Increase Breakdown Total = $559 Avg * Estimated *

5. 2014 School Increase Total = $430 Avg

6. Calendar vs. Fiscal Year

7. Borough Obligation By state statute, the borough is designated as the collector of municipal, school and county taxes. We do not have authority over the county nor school tax rates. Any issues with the school or county portion of the tax bills can only be addressed with those entities. Although we did not create this error, we inherit the responsibility of collecting the taxes as determined by the school district and the county.

8. Borough Response to the Increase Commissioner Dawson worked with the school district to spread the impact out over 4 years rather than all at once this year. A notice was intended to go out with the estimated tax bills, however, the bills were sent out inadvertently. Notice of this issue is the responsibility of the school district. The notice you received this evening will be distributed to tax payers this week. The message in this notice is altered from the original to include an apology from the borough.

9. QUESTIONS?