The first tax "hit" using the new Nassau County reassessment will be reflected in the school district tax bill coming in October. The most relevant information for homeowners is how to compute the new school tax for their property. To do this, the taxpayer should take his/her new assessed valuation and times it by 107.228 percent. According to Assistant Superintendent for Business Mary Callahan, the average assessed valuation for a home in Port Washington is now $6,537. (Note: this figure used to be $10,000). The school tax on a home using the $6,537 figure would be $7,009 ($6,537 X 107.228). Bear in mind that this amount does not include town, village, police, and other taxes, on one hand; and it does not include any tax reductions (i.e. STAR program), on the other hand.

The amount of assessed valuation of real property in the school district totals $63,151,502, with Class I residential bearing most of the tax burden amounting to $57,071,436.

The school budget for the school year 2003-2004 is $91,967,975. Added to this figure is the library budget that is billed through the school district, and for this year is $5,471,674. This totals $97,439,649. Out of this amount, $88,687,126 has to be raised by taxation. The reduction comes from revenue incomes (i.e. fees, grants). This year, $506,000 of state aid that was unanticipated at the time the budget was approved was put back into it to offset the tax levy.

Board members expressed concern over tax increases in general. Mark Marcellus stated that he fears that in upcoming years the community will not support these ever escalating budgets.

Dean Nardone cautioned that hiring additional teachers amounts to almost $100,000 each and asked that administration and fellow board members be mindful of this fact.

Rob Seiden, who chairs the fiscal and budget committee, added that his group will be working hard this year to keep costs down.