The math of the library bond referendum

To the editor: I have had an opportunity to speak with many library supporters within the last few weeks. Almost everyone had a question regarding how to estimate the tax increase on their property, which would result from a successful bond referendum March 8, 2007. The $8.5 million bond would cost the taxpayers residing in the Warwick Valley School District $1.48 per $1,000 for Warwick residents and $.35 per $1,000 for Chester residents. The confusion is a result of their tax bills showing a fair market value and assessed value on their homes. The tax applies only to the assessed value; which is considerably less than the fair market value. As an example, a home on Onderdonk Road with a fair market value of $364,500 has an assessed value of $56,200. The calculation used to determine the tax amount would be: 56,200 divided by 1,000 = 56.2, times $1.48 = $83.18 per year or $6.93 per month. Anyone with questions regarding the referendum or the proposed building plans, should contact Library Director Rosemary Copper at 986-1047 or e-mail warref@rcls.org. Donna Applegate President Albert Wisner Public Library Board of Trustees